Huntington National Bank Reduces Stock Position in Parker-Hannifin Corporation $PH

Key Points

• Huntington National Bank cut its stake in Parker-Hannifin by 2.5% in the fourth quarter, selling 3,864 shares and ending with 152,509 shares valued at about $134 million.
• Parker-Hannifin recently posted better-than-expected earnings, reporting $8.17 EPS versus $7.84 expected, while revenue rose 10.6% year over year to $5.49 billion.
• The company also raised its quarterly dividend to $2.00 per share from $1.80, and analysts remain generally bullish with a consensus rating of Moderate Buy and an average price target of $1,020.80.

Huntington National Bank lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 152,509 shares of the industrial products company's stock after selling 3,864 shares during the period. Huntington National Bank owned 0.12% of Parker-Hannifin worth $134,050,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. 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 worth $9,793,843,000 after acquiring 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 worth $2,960,266,000 after acquiring 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 worth $1,959,166,000 after acquiring an additional 169,073 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Parker-Hannifin by 0.6% in the third quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company's stock worth $1,674,132,000 after purchasing an additional 13,309 shares during the period. Finally, UBS Group AG increased its holdings in shares of Parker-Hannifin by 2.7% in the fourth quarter. UBS Group AG now owns 982,780 shares of the industrial products company's stock worth $863,824,000 after purchasing an additional 25,968 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

PH opened at $856.32 on Thursday. The stock's 50 day simple moving average is $915.00 and its 200 day simple moving average is $916.01. 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 Corporation has a 1 year low of $646.51 and a 1 year high of $1,034.96. The firm has a market cap of $107.97 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 2.52 and a beta of 1.18.

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

Parker-Hannifin Increases Dividend

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

Analysts Set New Price Targets

Several research firms have recently weighed in on PH. iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a report on Thursday, January 29th. Wall Street Zen raised shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Wednesday, February 4th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Parker-Hannifin in a report on Thursday, January 29th. JPMorgan Chase & Co. decreased 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 report on Thursday, May 7th. Finally, BMO Capital Markets began coverage on shares of Parker-Hannifin in a report on Friday, March 27th. They issued an "outperform" rating and a $1,090.00 price target on the stock. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average target price of $1,020.80.

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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