Parker-Hannifin Corporation $PH Shares Acquired by Korea Investment CORP

Key Points

• Korea Investment CORP boosted its stake in Parker-Hannifin by 13.7% in the fourth quarter, ending with 100,385 shares valued at about $88.2 million.
• Parker-Hannifin reported strong quarterly results, with EPS of $8.17 beating estimates and revenue of $5.49 billion also topping expectations, while sales rose 10.6% year over year.
• The company raised its quarterly dividend to $2.00 per share from $1.80, and Wall Street currently has a consensus Moderate Buy rating with a price target around $1,021.05.

Korea Investment CORP increased its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 13.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 100,385 shares of the industrial products company's stock after acquiring an additional 12,068 shares during the period. Korea Investment CORP owned approximately 0.08% of Parker-Hannifin worth $88,234,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC lifted its position in Parker-Hannifin by 5.9% during the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after buying an additional 101 shares in the last quarter. Bison Wealth LLC lifted its position in Parker-Hannifin by 4.5% during the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company's stock valued at $476,000 after buying an additional 32 shares in the last quarter. Empowered Funds LLC lifted its position in Parker-Hannifin by 0.5% during the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company's stock valued at $1,759,000 after buying an additional 15 shares in the last quarter. Acadian Asset Management LLC lifted its position in Parker-Hannifin by 26.2% during the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company's stock valued at $484,000 after buying an additional 166 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its position in Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock valued at $300,000 after buying an additional 15 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 0.1%

NYSE PH opened at $901.89 on Friday. The company's fifty day simple moving average is $907.43 and its 200-day simple moving average is $918.32. Parker-Hannifin Corporation has a 52 week low of $646.51 and a 52 week high of $1,034.96. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. The stock has a market cap of $113.72 billion, a P/E ratio of 33.27, a PEG ratio of 2.62 and a beta of 1.14.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its 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. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The business had revenue of $5.49 billion for the quarter, compared to analysts' expectations of $5.40 billion. During the same period in the previous year, the company posted $6.94 earnings per share. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. 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 an increase 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 0.9%. Parker-Hannifin's dividend payout ratio is presently 29.51%.

Wall Street Analyst Weigh In

PH has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 24th. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the company a "hold" rating in a research report on Friday, April 10th. Wall Street Zen cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Sanford C. Bernstein initiated coverage on shares of Parker-Hannifin in a research report on Tuesday. They set an "outperform" rating and a $1,026.00 price target on the stock. Finally, Wells Fargo & Company reduced their price target 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. One research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,021.05.

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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