Burney Co. Sells 5,856 Shares of Parker-Hannifin Corporation $PH

Key Points

• Burney Co. cut its Parker-Hannifin stake by 11% in the first quarter, selling 5,856 shares and leaving it with 47,351 shares valued at about $42.4 million.
• Wall Street remains broadly upbeat on PH, with an average rating of “Moderate Buy” and an average price target of $1,026.86, while Truist recently raised its target to $1,269.
• The company reported solid quarterly results and raised its dividend, beating EPS and revenue estimates, increasing revenue 10.6% year over year, and boosting its quarterly dividend to $2.00 per share from $1.80.

Burney Co. reduced its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,351 shares of the industrial products company's stock after selling 5,856 shares during the period. Parker-Hannifin makes up about 1.3% of Burney Co.'s investment portfolio, making the stock its 8th biggest holding. Burney Co.'s holdings in Parker-Hannifin were worth $42,391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. HFM Investment Advisors LLC grew its stake in shares of Parker-Hannifin by 1,000.0% in the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company's stock valued at $29,000 after buying an additional 30 shares in the last quarter. Texas Capital Bancshares Inc TX acquired a new position in Parker-Hannifin during the 3rd quarter worth approximately $25,000. Lloyd Advisory Services LLC. acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $31,000. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in Parker-Hannifin by 80.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company's stock worth $32,000 after acquiring an additional 16 shares during the period. Finally, First Command Advisory Services Inc. boosted its holdings in Parker-Hannifin by 1,133.3% in the 4th quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company's stock worth $33,000 after acquiring an additional 34 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PH. Sanford C. Bernstein started coverage on shares of Parker-Hannifin in a research note on Tuesday, June 9th. They set an "outperform" rating and a $1,026.00 price objective on the stock. Citigroup restated a "buy" rating on shares of Parker-Hannifin in a research note on Monday, June 8th. Truist Financial lifted their price target on shares of 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. Stifel Nicolaus boosted their price objective on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a "hold" rating in a report on Friday, April 10th. Finally, Wells Fargo & Company cut their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating on the stock in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,026.86.

Parker-Hannifin Price Performance

PH stock opened at $971.09 on Tuesday. The stock's 50 day moving average is $907.42 and its two-hundred day moving average is $928.07. Parker-Hannifin Corporation has a 52-week low of $692.02 and a 52-week high of $1,034.96. The company has a market capitalization of $122.44 billion, a PE ratio of 35.82, a P/E/G ratio of 2.57 and a beta of 1.11. 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 - Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $5.40 billion. During the same period in the prior year, the business posted $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. Analysts predict that Parker-Hannifin Corporation will post 31.26 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

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

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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