Jennison Associates LLC Has $234.47 Million Stake in Parker-Hannifin Corporation $PH

Key Points

• Jennison Associates LLC boosted its stake in Parker-Hannifin by 152.2% in the first quarter, ending with 261,912 shares valued at about $234.5 million.
• Parker-Hannifin reported better-than-expected quarterly results, 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 quarterly dividend to $2.00 per share from $1.80, and analysts remain broadly positive with an average Moderate Buy rating and a target price near $1,027.38.

Jennison Associates LLC raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 152.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 261,912 shares of the industrial products company's stock after purchasing an additional 158,081 shares during the period. Jennison Associates LLC owned 0.21% of Parker-Hannifin worth $234,474,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PH. HFM Investment Advisors LLC raised its position in shares of Parker-Hannifin by 1,000.0% during the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company's stock worth $29,000 after acquiring an additional 30 shares during the last quarter. Texas Capital Bancshares Inc TX bought a new stake in Parker-Hannifin in the third quarter valued at approximately $25,000. Lloyd Advisory Services LLC. bought a new stake in Parker-Hannifin in the fourth quarter valued at approximately $31,000. NFSG Corp increased its position in Parker-Hannifin by 94.4% during the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 17 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in Parker-Hannifin by 80.0% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 16 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of PH opened at $953.13 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. The stock has a 50-day moving average of $912.84 and a 200-day moving average of $933.05. The company has a market cap of $120.18 billion, a PE ratio of 35.16, a P/E/G ratio of 2.54 and a beta of 1.11. Parker-Hannifin Corporation has a one year low of $692.02 and a one year high of $1,034.96.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, beating analysts' consensus estimates of $7.84 by $0.33. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates 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 was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. On average, equities research analysts predict that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.80. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin's payout ratio is currently 29.51%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wall Street Zen lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. JPMorgan Chase & Co. lowered their target price on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a research note on Thursday, May 7th. Wells Fargo & Company dropped their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating on the stock in a report on Tuesday, May 26th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. Finally, Evercore set a $1,064.00 price target on Parker-Hannifin in a report on Monday, May 11th. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $1,027.38.

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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