Parker-Hannifin Corporation $PH Stake Lessened by Bank of Nova Scotia

Bank of Nova Scotia lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 17.6% during the first quarter, Holdings Channel.com reports. The fund owned 30,678 shares of the industrial products company’s stock after selling 6,562 shares during the period. Bank of Nova Scotia’s holdings in Parker-Hannifin were worth $27,464,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Parker-Hannifin by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock valued at $9,793,843,000 after buying an additional 33,606 shares in the last quarter. Bank of America Corp DE raised its position in Parker-Hannifin by 0.6% in the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock worth $3,451,584,000 after acquiring an additional 22,305 shares in the last quarter. Capital World Investors lifted its holdings in Parker-Hannifin by 0.6% in the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after acquiring an additional 16,703 shares during the last quarter. Morgan Stanley boosted its position in shares of Parker-Hannifin by 1.1% during the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after purchasing an additional 22,367 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $1,756,230,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

NYSE:PH opened at $986.17 on Friday. The firm has a market capitalization of $124.35 billion, a PE ratio of 36.38, a PEG ratio of 2.63 and a beta of 1.11. Parker-Hannifin Corporation has a 1 year low of $692.02 and a 1 year high of $1,034.96. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. The firm’s fifty day simple moving average is $922.26 and its 200 day simple moving average is $936.00.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.84 by $0.33. The company had revenue of $5.49 billion during 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 business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. On average, sell-side analysts anticipate that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Wall Street Analysts Forecast Growth

PH has been the subject of several recent research reports. Sanford C. Bernstein reissued an “outperform” rating and set a $1,037.00 target price on shares of Parker-Hannifin in a research note on Thursday, July 16th. Wells Fargo & Company decreased their price target on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Stifel Nicolaus raised their price objective on Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a research note on Friday, April 10th. JPMorgan Chase & Co. decreased their target price 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. Finally, Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a research note on Friday, May 1st. Eighteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,027.38.

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.