Mattern Capital Management LLC Sells 2,664 Shares of Parker-Hannifin Corporation $PH

Key Points

• Mattern Capital Management reduced its stake in Parker-Hannifin by 22.7% in the first quarter, selling 2,664 shares and leaving it with 9,085 shares valued at about $8.13 million.
• Parker-Hannifin reported better-than-expected quarterly results, posting EPS of $8.17 versus estimates of $7.84 and revenue of $5.49 billion versus expectations of $5.40 billion.
• The company also raised its dividend to $2.00 per share quarterly, and analysts currently rate the stock a Moderate Buy with a consensus price target of $1,026.86.

Mattern Capital Management LLC cut its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 22.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,085 shares of the industrial products company's stock after selling 2,664 shares during the period. Mattern Capital Management LLC's holdings in Parker-Hannifin were worth $8,133,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PH. Norges Bank purchased a new position in shares of Parker-Hannifin in the fourth quarter worth $1,756,230,000. Eurizon Capital SGR S.p.A. bought a new stake in Parker-Hannifin in the 4th quarter valued at $185,532,000. Focus Partners Wealth increased its holdings in Parker-Hannifin by 1,535.3% in the 4th quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company's stock valued at $194,106,000 after acquiring an additional 207,495 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Parker-Hannifin by 119.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 340,727 shares of the industrial products company's stock worth $305,032,000 after purchasing an additional 185,367 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new position in shares of Parker-Hannifin during the 4th quarter valued at about $104,040,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Down 1.1%

Shares of PH opened at $951.14 on Tuesday. The company's fifty day simple moving average is $907.10 and its 200-day simple moving average is $931.43. The company has a market cap of $119.93 billion, a P/E ratio of 35.08, a P/E/G ratio of 2.57 and a beta of 1.11. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. Parker-Hannifin Corporation has a twelve month low of $692.02 and a twelve month high of $1,034.96.

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

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.80. The ex-dividend date was Friday, May 8th. Parker-Hannifin's dividend payout ratio (DPR) is presently 29.51%.

Analyst Upgrades and Downgrades

PH has been the subject of a number of research analyst reports. Citigroup restated a "buy" rating on shares of Parker-Hannifin in a research report on Monday, June 8th. Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Mizuho set a $1,050.00 price target on Parker-Hannifin in a research note on Friday, May 1st. Evercore set a $1,064.00 price objective on Parker-Hannifin in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. decreased their price objective on 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. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,026.86.

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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