Hsbc Holdings PLC Raises Holdings in Parker-Hannifin Corporation $PH

Key Points

• HSBC Holdings PLC increased its stake in Parker-Hannifin by 3.9% in the first quarter, adding 8,636 shares and bringing its total holding to 227,424 shares valued at about $202.9 million.
• Parker-Hannifin’s latest quarterly results beat expectations, with EPS of $8.17 versus $7.84 expected and revenue of $5.49 billion versus $5.40 billion expected, while revenue rose 10.6% year over year.
• The company also raised its dividend to $2.00 per share quarterly from $1.80, and analysts remain broadly positive with 18 Buy ratings and a consensus Moderate Buy target price of $1,027.38.

Hsbc Holdings PLC grew its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 227,424 shares of the industrial products company's stock after acquiring an additional 8,636 shares during the quarter. Hsbc Holdings PLC owned about 0.18% of Parker-Hannifin worth $202,888,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Money Concepts Capital Corp purchased a new stake in Parker-Hannifin during the 1st quarter worth approximately $210,000. Resona Asset Management Co. Ltd. lifted its stake in shares of Parker-Hannifin by 2.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 39,095 shares of the industrial products company's stock worth $34,757,000 after buying an additional 834 shares during the period. CFS Investment Advisory Services LLC lifted its stake in shares of Parker-Hannifin by 3.2% during the first quarter. CFS Investment Advisory Services LLC now owns 414 shares of the industrial products company's stock worth $409,000 after buying an additional 13 shares during the period. Ascent Advisors LLC purchased a new stake in shares of Parker-Hannifin during the first quarter valued at $350,000. Finally, Cvfg LLC purchased a new stake in shares of Parker-Hannifin during the first quarter valued at $6,789,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PH. Sanford C. Bernstein restated an "outperform" rating and issued a $1,037.00 target price on shares of Parker-Hannifin in a research note on Thursday. Mizuho set a $1,050.00 price target on Parker-Hannifin in a research note on Friday, May 1st. Stifel Nicolaus raised their price objective on Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a "hold" rating in a research note on Friday, April 10th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a report on Tuesday, April 21st. Finally, Truist Financial upped their target price on Parker-Hannifin from $1,147.00 to $1,269.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Eighteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus target price of $1,027.38.

Parker-Hannifin Trading Down 0.5%

NYSE PH opened at $953.13 on Friday. The company has a market capitalization of $120.18 billion, a PE ratio of 35.16, a P/E/G ratio of 2.54 and a beta of 1.11. The company has a fifty day moving average of $912.84 and a 200 day moving average of $933.05. Parker-Hannifin Corporation has a 1 year low of $692.02 and a 1 year high of $1,034.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66.

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

Parker-Hannifin Increases Dividend

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