Hendley & Co. Inc. Reduces Stock Holdings in Parker-Hannifin Corporation $PH

Key Points

• Hendley & Co. Inc. trimmed its Parker-Hannifin stake by 7.1% in the fourth quarter, selling 1,456 shares and leaving it with 18,977 shares valued at about $16.68 million.
• Wall Street remains constructive on PH, with 17 analysts rating it a Buy and four a Hold; the consensus target price is $1,022.30, while recent firms have mostly maintained overweight or buy ratings.
• Parker-Hannifin reported solid quarterly results and raised its dividend, beating EPS and revenue estimates and boosting its quarterly payout to $2.00 per share from $1.80.

Hendley & Co. Inc. reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,977 shares of the industrial products company's stock after selling 1,456 shares during the period. Parker-Hannifin accounts for about 5.8% of Hendley & Co. Inc.'s holdings, making the stock its 5th biggest position. Hendley & Co. Inc.'s holdings in Parker-Hannifin were worth $16,680,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Parker-Hannifin by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company's stock valued at $9,793,843,000 after purchasing an additional 33,606 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Parker-Hannifin by 0.6% during the third quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company's stock valued at $2,960,266,000 after purchasing an additional 22,706 shares in the last quarter. Capital World Investors lifted its position in shares of Parker-Hannifin by 7.0% during the third quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company's stock valued at $1,959,166,000 after purchasing an additional 169,073 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Parker-Hannifin by 0.6% during the third quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company's stock valued at $1,674,132,000 after purchasing an additional 13,309 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Parker-Hannifin by 2.7% during the fourth quarter. UBS Group AG now owns 982,780 shares of the industrial products company's stock valued at $863,824,000 after purchasing an additional 25,968 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on PH. KeyCorp reissued an "overweight" rating and set a $1,100.00 price target on shares of Parker-Hannifin in a research report on Friday, January 30th. JPMorgan Chase & Co. dropped their price target on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating on the stock in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. Wells Fargo & Company lowered their price objective on shares of Parker-Hannifin from $1,050.00 to $980.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 1st. Finally, Citigroup lifted their price objective on shares of Parker-Hannifin from $1,137.00 to $1,141.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average target price of $1,022.30.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $861.31 on Friday. The firm has a market cap of $108.71 billion, a price-to-earnings ratio of 31.77, a P/E/G ratio of 2.51 and a beta of 1.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. Parker-Hannifin Corporation has a 52 week low of $637.21 and a 52 week high of $1,034.96. The firm's 50-day simple moving average is $925.06 and its two-hundred day simple moving average is $910.46.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, topping the consensus estimate of $7.84 by $0.33. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The company's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, equities analysts forecast that Parker-Hannifin Corporation will post 31.26 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be paid a $2.00 dividend. The ex-dividend date is Friday, May 8th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.80. This represents a $8.00 annualized dividend and a dividend yield of 0.9%. Parker-Hannifin's dividend payout ratio is 29.51%.

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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