Cibc World Market Inc. Has $11.31 Million Position in Parker-Hannifin Corporation $PH

Key Points

• CIBC World Market reduced its Parker-Hannifin position by 19.3% in the second quarter, selling 2,766 shares and retaining 11,559 shares valued at $11.31 million. Institutional investors and hedge funds collectively own 82.44% of the company.
• Analysts remain broadly positive, with 17 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $1,100.
• Parker-Hannifin reported quarterly EPS of $9.27, exceeding estimates by $0.96, while revenue rose 9.8% year over year to $5.75 billion. The company also declared a $2 quarterly dividend, or $8 annually, yielding approximately 0.8%.

Cibc World Market Inc. lowered its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 19.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,559 shares of the industrial products company's stock after selling 2,766 shares during the quarter. Cibc World Market Inc.'s holdings in Parker-Hannifin were worth $11,306,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PH. E Fund Management Co. Ltd. grew its stake in shares of Parker-Hannifin by 2.1% in the 2nd quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company's stock valued at $467,000 after purchasing an additional 10 shares during the period. Optas LLC raised its holdings in shares of 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 during the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of 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 worth $540,000 after acquiring an additional 11 shares during the last quarter. Inspire Advisors LLC lifted its holdings in Parker-Hannifin by 1.2% during the 4th quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company's stock worth $807,000 after buying an additional 11 shares in the last quarter. Finally, RFG Advisory LLC lifted its stake in shares of Parker-Hannifin by 0.3% during the first quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company's stock valued at $3,348,000 after acquiring an additional 12 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of analyst reports. Evercore set a $1,064.00 target price on shares of Parker-Hannifin in a report on Monday, May 11th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $1,214.00 price target on shares of Parker-Hannifin in a research note on Friday, August 7th. UBS Group lifted their target price on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a "buy" rating in a research report on Friday, August 7th. BNP Paribas Exane restated 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, Mizuho set a $1,050.00 target price on shares of Parker-Hannifin in a research note on Friday, May 1st. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,100.00.

Parker-Hannifin Stock Performance

NYSE:PH opened at $1,014.87 on Tuesday. 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 stock has a 50 day simple moving average of $986.33 and a 200 day simple moving average of $949.08. Parker-Hannifin Corporation has a 1-year low of $715.37 and a 1-year high of $1,099.94. The stock has a market cap of $127.96 billion, a P/E ratio of 35.62, a PEG ratio of 2.61 and a beta of 1.12.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping 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 business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period last year, the firm earned $7.69 earnings per share. Parker-Hannifin's revenue for the quarter was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Research analysts anticipate that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed 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 of this dividend is Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin's dividend payout ratio is currently 28.08%.

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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