BI Asset Management Fondsmaeglerselskab A S Grows Stock Holdings in Parker-Hannifin Corporation $PH

BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 83.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 21,958 shares of the industrial products company’s stock after purchasing an additional 10,007 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Parker-Hannifin were worth $19,300,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fideuram Asset Management Ireland dac purchased a new stake in Parker-Hannifin during the fourth quarter worth approximately $1,253,000. ING Groep NV purchased a new stake in Parker-Hannifin during the third quarter worth approximately $26,398,000. Citigroup Inc. grew its stake in Parker-Hannifin by 54.7% during the third quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock worth $120,294,000 after buying an additional 56,103 shares during the period. Truist Financial Corp grew its stake in Parker-Hannifin by 2.7% during the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after buying an additional 4,673 shares during the period. Finally, Advisors Capital Management LLC lifted its position in shares of Parker-Hannifin by 140.0% during the third quarter. Advisors Capital Management LLC now owns 2,232 shares of the industrial products company’s stock worth $1,693,000 after purchasing an additional 1,302 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PH shares. BMO Capital Markets started coverage on shares of Parker-Hannifin in a research report on Friday, March 27th. They set an “outperform” rating and a $1,090.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Citigroup boosted their target price on shares of Parker-Hannifin from $1,137.00 to $1,141.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Wall Street Zen cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Mizuho set a $1,050.00 target price on shares of Parker-Hannifin in a research report on Friday, May 1st. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,020.80.

Parker-Hannifin Trading Up 1.3%

PH opened at $883.20 on Friday. The stock has a market capitalization of $111.36 billion, a PE ratio of 32.58, a P/E/G ratio of 2.57 and a beta of 1.14. The firm’s fifty day moving average price is $907.35 and its 200 day moving average price is $915.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. Parker-Hannifin Corporation has a 12-month low of $646.51 and a 12-month high of $1,034.96.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.84 by $0.33. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, research analysts expect that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were issued a $2.00 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. This represents a $8.00 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, May 8th. Parker-Hannifin’s dividend payout ratio is currently 29.51%.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.