Assetmark Inc. Has $26.96 Million Stock Position in Parker-Hannifin Corporation $PH

Key Points

• Assetmark Inc. increased its stake in Parker-Hannifin by 6.8% in the first quarter, buying 1,922 additional shares and bringing its total holding to 30,119 shares worth about $26.96 million.
• Parker-Hannifin reported stronger-than-expected quarterly results, with EPS of $8.17 topping estimates and revenue of $5.49 billion beating forecasts; revenue also rose 10.6% year over year.
• The company raised its quarterly dividend to $2.00 per share from $1.80, while Wall Street remains constructive with a consensus rating of Moderate Buy and an average price target of $1,027.38.

Assetmark Inc. increased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,119 shares of the industrial products company's stock after buying an additional 1,922 shares during the quarter. Assetmark Inc.'s holdings in Parker-Hannifin were worth $26,964,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fideuram Asset Management Ireland dac bought a new position in shares of Parker-Hannifin in the 4th quarter valued at about $1,253,000. Truist Financial Corp increased its position in shares of Parker-Hannifin by 2.7% in the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company's stock valued at $153,687,000 after acquiring an additional 4,673 shares during the last quarter. Y.D. More Investments Ltd bought a new stake in Parker-Hannifin during the fourth quarter worth about $3,800,000. BCS Wealth Management raised its holdings in Parker-Hannifin by 83.3% during the fourth quarter. BCS Wealth Management now owns 3,120 shares of the industrial products company's stock worth $2,742,000 after acquiring an additional 1,418 shares in the last quarter. Finally, Shepherd Street Advisors LLC acquired a new position in Parker-Hannifin during the fourth quarter valued at approximately $1,736,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Down 0.5%

Shares of PH opened at $953.13 on Friday. Parker-Hannifin Corporation has a 52 week low of $692.02 and a 52 week high of $1,034.96. The firm has a market cap of $120.18 billion, a P/E ratio of 35.16, a price-to-earnings-growth ratio of 2.54 and a beta of 1.11. The firm's 50-day simple moving average is $912.84 and its 200 day simple moving average is $933.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13.

Parker-Hannifin (NYSE:PH - Get Free Report) 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. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The firm had revenue of $5.49 billion for the quarter, compared to analysts' expectations of $5.40 billion. During the same period in the prior year, the firm earned $6.94 EPS. The business's revenue was up 10.6% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. On average, analysts forecast that Parker-Hannifin Corporation will post 31.26 earnings per share for the current year.

Parker-Hannifin Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PH shares. BMO Capital Markets assumed coverage on Parker-Hannifin in a research report on Friday, March 27th. They set an "outperform" rating and a $1,090.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the company a "hold" rating in a research note on Friday, April 10th. Evercore set a $1,064.00 target price on shares of Parker-Hannifin in a report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. Eighteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,027.38.

Parker-Hannifin Profile

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.

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