Caisse de depot et placement du Quebec Acquires 148,202 Shares of Parker-Hannifin Corporation $PH

Key Points

• Caisse de dépôt et placement du Québec increased its Parker-Hannifin stake by 2,666% in the second quarter, purchasing 148,202 shares for a total holding valued at approximately $150.4 million.
• Parker-Hannifin reported quarterly results above expectations, with adjusted EPS of $9.27 versus the $8.31 consensus and revenue of $5.75 billion, up 9.8% year over year.
• The company declared a quarterly dividend of $2 per share, or $8 annually, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $1,100.

Caisse de depot et placement du Quebec raised its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2,666.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 153,761 shares of the industrial products company's stock after purchasing an additional 148,202 shares during the quarter. Caisse de depot et placement du Quebec owned 0.12% of Parker-Hannifin worth $150,397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. E Fund Management Co. Ltd. raised its holdings in shares of Parker-Hannifin by 2.1% during the 2nd quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company's stock worth $467,000 after buying an additional 10 shares in the last quarter. Optas LLC boosted its stake in Parker-Hannifin by 3.1% in the first quarter. Optas LLC now owns 370 shares of the industrial products company's stock valued at $331,000 after buying an additional 11 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in Parker-Hannifin by 1.8% in the fourth 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 during the last quarter. Inspire Advisors LLC grew its position in Parker-Hannifin by 1.2% in the fourth 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 during the last quarter. Finally, RFG Advisory LLC raised its stake in Parker-Hannifin by 0.3% during the first quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company's stock worth $3,348,000 after acquiring an additional 12 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $1,040.76 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $131.19 billion, a PE ratio of 36.53, a P/E/G ratio of 2.65 and a beta of 1.12. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. The stock has a 50-day moving average price of $989.76 and a two-hundred day moving average price of $949.93.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating analysts' consensus estimates of $8.31 by $0.96. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Analysts expect that Parker-Hannifin Corporation will post 34.93 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be given a dividend of $2.00 per share. The ex-dividend date is Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin's dividend payout ratio (DPR) is currently 28.08%.

Analyst Ratings Changes

A number of research analysts have recently commented on PH shares. Susquehanna increased their target price on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a "positive" rating in a report on Friday, August 7th. Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a research report on Friday, May 1st. Wall Street Zen downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a research note on Thursday, May 7th. Finally, Stifel Nicolaus set a $1,075.00 target price on shares of Parker-Hannifin in a research report on Friday, August 7th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,100.00.

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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