Bank of New York Mellon Corp Sells 15,360 Shares of Parker-Hannifin Corporation $PH

Key Points

• Bank of New York Mellon trimmed its Parker-Hannifin stake by 2.0% in the first quarter, selling 15,360 shares and leaving it with 740,592 shares valued at about $663 million.
• Parker-Hannifin beat quarterly expectations, reporting $8.17 EPS on revenue of $5.49 billion, while also raising its quarterly dividend to $2.00 per share from $1.80.
• Wall Street remains broadly constructive on the stock, with 18 Buy ratings and 4 Holds, and analysts see an average price target of about $1,027.

Bank of New York Mellon Corp decreased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 740,592 shares of the industrial products company's stock after selling 15,360 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.59% of Parker-Hannifin worth $663,008,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. JFS Wealth Advisors LLC lifted its position in shares of Parker-Hannifin by 6.8% in the fourth quarter. JFS Wealth Advisors LLC now owns 173 shares of the industrial products company's stock worth $152,000 after buying an additional 11 shares during the last quarter. Avion Wealth increased its holdings in shares of Parker-Hannifin by 35.5% during the 4th quarter. Avion Wealth now owns 42 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 11 shares during the last quarter. Optas LLC increased its holdings in shares of Parker-Hannifin by 3.1% during the 1st quarter. Optas LLC now owns 370 shares of the industrial products company's stock valued at $331,000 after acquiring an additional 11 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Parker-Hannifin by 1.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company's stock valued at $540,000 after acquiring an additional 11 shares in the last quarter. Finally, Inspire Advisors LLC raised its stake in shares of Parker-Hannifin by 1.2% in the 4th quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company's stock valued at $807,000 after acquiring an additional 11 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $958.28 on Friday. Parker-Hannifin Corporation has a 52-week low of $692.02 and a 52-week high of $1,034.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. The firm has a market capitalization of $120.83 billion, a price-to-earnings ratio of 35.35, a P/E/G ratio of 2.54 and a beta of 1.11. The company's fifty day moving average is $911.34 and its two-hundred day moving average is $932.91.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, topping analysts' consensus estimates of $7.84 by $0.33. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Equities research analysts forecast that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were paid a $2.00 dividend. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.80. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, May 8th. Parker-Hannifin's payout ratio is presently 29.51%.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on 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. Citigroup reaffirmed a "buy" rating on shares of Parker-Hannifin in a report on Monday, June 8th. Wall Street Zen lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $1,037.00 target price on shares of Parker-Hannifin in a report on Thursday. Finally, Wells Fargo & Company cut their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating for the company in a research report on Tuesday, May 26th. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company 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.

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