Madison Asset Management LLC Trims Stock Position in Parker-Hannifin Corporation $PH

Key Points

• Madison Asset Management trimmed its stake in Parker-Hannifin by 5.9% in the first quarter, selling 5,878 shares and leaving it with 93,074 shares valued at about $83.3 million.
• Parker-Hannifin reported strong quarterly results, with EPS of $8.17 beating estimates and revenue of $5.49 billion also topping forecasts; revenue rose 10.6% year over year.
• The company raised its quarterly dividend to $2.00 per share from $1.80, while analysts remain broadly positive with a consensus Moderate Buy rating and an average target price of $1,027.38.

Madison Asset Management LLC decreased its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 93,074 shares of the industrial products company's stock after selling 5,878 shares during the quarter. Parker-Hannifin makes up about 1.0% of Madison Asset Management LLC's holdings, making the stock its 27th largest position. Madison Asset Management LLC owned 0.07% of Parker-Hannifin worth $83,323,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PH. Brighton Jones LLC grew its position in shares of Parker-Hannifin by 5.9% during the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock worth $1,150,000 after acquiring an additional 101 shares during the last quarter. Bison Wealth LLC raised its position in Parker-Hannifin by 4.5% in the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company's stock valued at $476,000 after purchasing an additional 32 shares during the last quarter. Empowered Funds LLC boosted its stake in Parker-Hannifin by 0.5% during the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company's stock worth $1,759,000 after purchasing an additional 15 shares during the period. Acadian Asset Management LLC boosted its stake in Parker-Hannifin by 26.2% during the 1st quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company's stock worth $484,000 after purchasing an additional 166 shares during the period. Finally, Sivia Capital Partners LLC grew its position in Parker-Hannifin by 3.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock worth $300,000 after purchasing an additional 15 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Down 0.3%

Shares of NYSE:PH opened at $950.03 on Tuesday. The company has a market cap of $119.79 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 2.54 and a beta of 1.11. The firm's 50-day simple moving average is $914.33 and its 200-day simple moving average is $933.78. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. Parker-Hannifin Corporation has a fifty-two week low of $692.02 and a fifty-two week high of $1,034.96.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business's revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business posted $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, equities research analysts predict 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 was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were paid a dividend of $2.00 per share. 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. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin's dividend payout ratio (DPR) is currently 29.51%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the company a "hold" rating in a research note on Friday, April 10th. JPMorgan Chase & Co. decreased 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. Mizuho set a $1,050.00 price target on Parker-Hannifin in a report on Friday, May 1st. BMO Capital Markets initiated coverage on Parker-Hannifin in a research note on Friday, March 27th. They set an "outperform" rating and a $1,090.00 price objective for the company. Finally, Truist Financial increased their price objective on Parker-Hannifin from $1,147.00 to $1,269.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Eighteen equities research 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 has a consensus rating of "Moderate Buy" and a consensus target price of $1,027.38.

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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