Brookstone Capital Management Reduces Position in Parker-Hannifin Corporation $PH

Brookstone Capital Management decreased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 15.3% in the first quarter, Holdings Channel reports. The fund owned 8,810 shares of the industrial products company’s stock after selling 1,596 shares during the period. Brookstone Capital Management’s holdings in Parker-Hannifin were worth $7,887,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PH. Fideuram Asset Management Ireland dac purchased a new position in Parker-Hannifin during the fourth quarter worth about $1,253,000. Truist Financial Corp grew its stake in shares of Parker-Hannifin by 2.7% in the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock valued at $153,687,000 after buying an additional 4,673 shares during the period. Y.D. More Investments Ltd purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $3,800,000. BCS Wealth Management increased its holdings in shares of Parker-Hannifin by 83.3% during the 4th quarter. BCS Wealth Management now owns 3,120 shares of the industrial products company’s stock worth $2,742,000 after buying an additional 1,418 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth approximately $5,437,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 1.3%

NYSE:PH opened at $949.91 on Wednesday. Parker-Hannifin Corporation has a 52 week low of $664.95 and a 52 week high of $1,034.96. The stock’s fifty day moving average is $908.47 and its two-hundred day moving average is $923.11. The stock has a market capitalization of $119.77 billion, a price-to-earnings ratio of 35.04, a price-to-earnings-growth ratio of 2.80 and a beta of 1.14. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Research analysts anticipate that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were given a dividend of $2.00 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, May 8th. Parker-Hannifin’s dividend payout ratio is currently 29.51%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PH. JPMorgan Chase & Co. decreased their price objective on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Sanford C. Bernstein assumed coverage on Parker-Hannifin in a research note on Tuesday, June 9th. They set an “outperform” rating and a $1,026.00 target price for the company. Citigroup restated a “buy” rating on shares of Parker-Hannifin in a research report on Monday, June 8th. Wells Fargo & Company decreased their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.05.

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.