Evansbrook LLC Makes New Investment in Parker-Hannifin Corporation $PH

Evansbrook LLC purchased a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,395 shares of the industrial products company’s stock, valued at approximately $1,226,000. Parker-Hannifin comprises approximately 0.8% of Evansbrook LLC’s holdings, making the stock its 24th biggest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PH. Fideuram Asset Management Ireland dac bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $1,253,000. Citigroup Inc. raised its holdings in Parker-Hannifin by 54.7% in the 3rd quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock worth $120,294,000 after purchasing an additional 56,103 shares during the period. Truist Financial Corp lifted its position 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 valued at $153,687,000 after purchasing an additional 4,673 shares in the last quarter. Advisors Capital Management LLC grew its holdings in 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 valued at $1,693,000 after purchasing an additional 1,302 shares during the period. Finally, Y.D. More Investments Ltd purchased a new stake in Parker-Hannifin in the fourth quarter worth about $3,800,000. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PH. Morgan Stanley lifted their price objective on Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a report on Tuesday, April 21st. JPMorgan Chase & Co. dropped their price target on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Sanford C. Bernstein began coverage on shares of Parker-Hannifin in a research report on Tuesday, June 9th. They set an “outperform” rating and a $1,026.00 price objective on the stock. Finally, Mizuho set a $1,050.00 target price on shares of Parker-Hannifin in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,021.05.

Parker-Hannifin Price Performance

NYSE:PH opened at $954.25 on Friday. The business’s 50-day moving average is $909.82 and its 200 day moving average is $921.12. Parker-Hannifin Corporation has a 12 month low of $646.51 and a 12 month high of $1,034.96. The company has a market capitalization of $120.32 billion, a P/E ratio of 35.20, a P/E/G ratio of 2.75 and a beta of 1.14. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46.

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

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were given 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 0.8%. The ex-dividend date was Friday, May 8th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 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.