Parker-Hannifin Corporation $PH Stock Position Raised by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its stake in Parker-Hannifin Corporation by 37.1%, now owning approximately 0.13% of the company, valued at $103.7 million.
• Parker-Hannifin reported a Q2 earnings per share of $7.69, exceeding analysts' estimates of $7.08, with revenue of $5.24 billion.
• The company has declared a quarterly dividend of $1.80 per share, payable on September 12th, representing a 0.9% yield.

Canada Pension Plan Investment Board raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 37.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 170,587 shares of the industrial products company's stock after acquiring an additional 46,122 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.13% of Parker-Hannifin worth $103,691,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Parker-Hannifin by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company's stock valued at $6,700,795,000 after purchasing an additional 168,990 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Parker-Hannifin by 52.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company's stock worth $1,485,042,000 after purchasing an additional 842,262 shares during the last quarter. Royal Bank of Canada grew its holdings in Parker-Hannifin by 99.8% during the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock worth $1,448,241,000 after acquiring an additional 1,137,564 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Parker-Hannifin by 9.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company's stock valued at $1,282,294,000 after purchasing an additional 172,064 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Parker-Hannifin by 11.6% in the 1st quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company's stock valued at $1,221,323,000 after acquiring an additional 208,573 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PH. KeyCorp raised their target price on shares of Parker-Hannifin from $790.00 to $810.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Evercore ISI reiterated an "outperform" rating on shares of Parker-Hannifin in a research report on Tuesday, August 19th. Barclays boosted their price target on Parker-Hannifin from $750.00 to $776.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Susquehanna assumed coverage on Parker-Hannifin in a report on Friday, August 15th. They set a "positive" rating and a $860.00 price target on the stock. Finally, Wells Fargo & Company boosted their price target on Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $768.71.

Insider Buying and Selling

In related news, VP Thomas C. Gentile sold 1,133 shares of Parker-Hannifin stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $729.50, for a total value of $826,523.50. Following the sale, the vice president directly owned 5,465 shares in the company, valued at approximately $3,986,717.50. The trade was a 17.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Joseph R. Leonti sold 4,625 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $750.84, for a total transaction of $3,472,635.00. Following the sale, the executive vice president directly owned 13,878 shares in the company, valued at approximately $10,420,157.52. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,039 shares of company stock valued at $10,356,566 over the last 90 days. 0.39% of the stock is owned by insiders.

Parker-Hannifin Stock Down 0.3%

NYSE:PH traded down $2.15 during trading hours on Wednesday, reaching $747.79. 259,878 shares of the company traded hands, compared to its average volume of 746,653. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $773.30. The business's 50-day moving average price is $727.16 and its two-hundred day moving average price is $663.97. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $95.55 billion, a P/E ratio of 27.57, a P/E/G ratio of 3.15 and a beta of 1.35.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. The company had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.Parker-Hannifin's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.77 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd will be issued a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio is presently 26.55%.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.