KBC Group NV Sells 6,074 Shares of Parker-Hannifin Corporation $PH

Key Points

• KBC Group NV reduced its stake in Parker-Hannifin by 14.8% in the first quarter, selling 6,074 shares and ending with 34,987 shares valued at about $31.3 million.
• Parker-Hannifin reported better-than-expected quarterly results, posting EPS of $8.17 versus $7.84 expected and revenue of $5.49 billion versus $5.40 billion estimated, with revenue up 10.6% year over year.
• The company also raised its dividend to $2.00 per quarter from $1.80, while analysts remain generally positive with a consensus rating of “Moderate Buy” and an average price target of $1,027.38.

KBC Group NV cut its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 14.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,987 shares of the industrial products company's stock after selling 6,074 shares during the quarter. KBC Group NV's holdings in Parker-Hannifin were worth $31,321,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Fideuram Asset Management Ireland dac bought a new stake in Parker-Hannifin in the fourth quarter valued at about $1,253,000. Truist Financial Corp increased its stake in Parker-Hannifin by 2.7% during the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company's stock valued at $153,687,000 after buying an additional 4,673 shares during the period. Y.D. More Investments Ltd bought a new stake in shares of Parker-Hannifin during the 4th quarter worth about $3,800,000. BCS Wealth Management lifted its stake in shares of Parker-Hannifin by 83.3% in the 4th quarter. BCS Wealth Management now owns 3,120 shares of the industrial products company's stock worth $2,742,000 after acquiring an additional 1,418 shares during the period. Finally, Shepherd Street Advisors LLC bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $1,736,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PH. Evercore set a $1,064.00 target price on Parker-Hannifin in a research note on Monday, May 11th. Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a "hold" rating in a research report on Friday, April 10th. BMO Capital Markets initiated coverage on Parker-Hannifin in a research report on Friday, March 27th. They set an "outperform" rating and a $1,090.00 price objective for the company. Weiss Ratings reissued a "buy (b)" rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. Finally, 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 research report on Tuesday, May 26th. Eighteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,027.38.

Parker-Hannifin Stock Performance

PH stock opened at $950.03 on Tuesday. The company has a 50 day moving average price of $914.33 and a 200 day moving average price of $933.78. Parker-Hannifin Corporation has a fifty-two week low of $692.02 and a fifty-two week 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. The stock has a market capitalization of $119.79 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 2.54 and a beta of 1.11.

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, beating analysts' consensus estimates of $7.84 by $0.33. The firm 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 business's revenue 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. Analysts forecast that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Parker-Hannifin Increases Dividend

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