Bellwether Advisors LLC Purchases New Stake in Parker-Hannifin Corporation $PH

Key Points

• Bellwether Advisors LLC opened a new position in Parker-Hannifin during Q1, buying 1,883 shares valued at about $1.69 million.
• The stock continues to attract major institutional interest, with hedge funds and other investors owning 82.44% of shares outstanding; several firms also recently increased their stakes.
• Parker-Hannifin reported strong quarterly results, beating EPS and revenue estimates, and it also raised its quarterly dividend from $1.80 to $2.00 per share.

Bellwether Advisors LLC purchased a new position in Parker-Hannifin Corporation (NYSE:PH - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,883 shares of the industrial products company's stock, valued at approximately $1,686,000.

Several other hedge funds have also recently added to or reduced their stakes in PH. Norges Bank purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $1,756,230,000. Eurizon Capital SGR S.p.A. purchased a new position in Parker-Hannifin in the 4th quarter valued at about $185,532,000. Focus Partners Wealth boosted its stake in shares of Parker-Hannifin by 1,535.3% during the 4th quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company's stock worth $194,106,000 after purchasing an additional 207,495 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Parker-Hannifin by 119.3% during the first quarter. Assenagon Asset Management S.A. now owns 340,727 shares of the industrial products company's stock worth $305,032,000 after buying an additional 185,367 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Parker-Hannifin by 152.2% in the first quarter. Jennison Associates LLC now owns 261,912 shares of the industrial products company's stock valued at $234,474,000 after buying an additional 158,081 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PH shares. Truist Financial raised their price target on Parker-Hannifin from $1,147.00 to $1,269.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Evercore set a $1,064.00 target price on shares of Parker-Hannifin in a research note on Monday, May 11th. Citigroup reiterated a "buy" rating on shares of Parker-Hannifin in a report on Monday, June 8th. Stifel Nicolaus lifted their target price on Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a "hold" rating in a research report on Friday, April 10th. Finally, Wall Street Zen downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. Eighteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,027.38.

Parker-Hannifin Trading Up 0.9%

NYSE:PH opened at $959.19 on Wednesday. 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 Corporation has a 1-year low of $692.02 and a 1-year high of $1,034.96. The stock has a fifty day simple moving average of $915.89 and a 200 day simple moving average of $934.34. The firm has a market capitalization of $120.94 billion, a price-to-earnings ratio of 35.38, a price-to-earnings-growth ratio of 2.54 and a beta of 1.11.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results 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. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the company earned $6.94 EPS. The firm's quarterly 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. Sell-side 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 announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were given a $2.00 dividend. 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 currently 29.51%.

Parker-Hannifin Company 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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