Canada Pension Plan Investment Board Sells 11,360 Shares of Parker-Hannifin Corporation $PH

Key Points

• Canada Pension Plan Investment Board reduced its Parker-Hannifin stake by 2.8%, selling 11,360 shares and retaining 389,235 shares worth approximately $380.7 million. Institutional investors collectively own 82.44% of the company.
• Parker-Hannifin reported quarterly earnings of $9.27 per share, beating estimates of $8.31, while revenue rose 9.8% year over year to $5.75 billion. The company issued fiscal 2027 EPS guidance of $34.25 to $35.25.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,100. Parker-Hannifin also declared a quarterly dividend of $2.00 per share, equivalent to an annualized yield of approximately 0.8%.

Canada Pension Plan Investment Board lessened its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 389,235 shares of the industrial products company's stock after selling 11,360 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.31% of Parker-Hannifin worth $380,719,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock worth $1,150,000 after buying an additional 101 shares during the period. Bison Wealth LLC lifted its position in Parker-Hannifin by 4.5% during the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company's stock valued at $476,000 after acquiring an additional 32 shares during the period. Empowered Funds LLC lifted its position in Parker-Hannifin by 0.5% during the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company's stock valued at $1,759,000 after acquiring an additional 15 shares during the period. Acadian Asset Management LLC boosted its stake in Parker-Hannifin by 26.2% during the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company's stock worth $484,000 after acquiring an additional 166 shares in the last quarter. Finally, Sivia Capital Partners LLC boosted its stake in Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock worth $300,000 after acquiring an additional 15 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. KeyCorp lifted their target price on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an "overweight" rating in a report on Friday, August 7th. BMO Capital Markets restated an "outperform" rating and issued a $1,214.00 price target on shares of Parker-Hannifin in a research note on Friday, August 7th. Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Saturday. BNP Paribas Exane reiterated an "outperform" rating and set a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, Sanford C. Bernstein boosted their target price on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,100.00.

Parker-Hannifin Stock Up 0.1%

Shares of Parker-Hannifin stock opened at $1,015.36 on Wednesday. The company has a 50-day simple moving average of $987.88 and a two-hundred day simple moving average of $949.41. The stock has a market capitalization of $127.99 billion, a PE ratio of 35.64, a price-to-earnings-growth ratio of 2.64 and a beta of 1.12. Parker-Hannifin Corporation has a 52-week low of $715.37 and a 52-week high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted 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. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The firm had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.57 billion. During the same quarter in the prior year, the company posted $7.69 earnings per share. The business's revenue for the quarter was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, analysts anticipate that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

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

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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