Parker-Hannifin Corporation $PH Shares Acquired by R Squared Ltd

Key Points

• R Squared Ltd boosted its stake in Parker-Hannifin by 243.3% in the first quarter, bringing its holdings to 2,266 shares valued at about $2.03 million.
• Parker-Hannifin shares fell 2.1% to $950.57, while the stock remains well within its 52-week range and carries a market cap of about $119.86 billion.
• The company beat quarterly earnings and revenue estimates, reported 10.6% year-over-year revenue growth, and raised its quarterly dividend to $2.00 per share from $1.80.

R Squared Ltd increased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 243.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,266 shares of the industrial products company's stock after purchasing an additional 1,606 shares during the period. Parker-Hannifin accounts for 1.1% of R Squared Ltd's investment portfolio, making the stock its 10th largest holding. R Squared Ltd's holdings in Parker-Hannifin were worth $2,029,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $1,756,230,000. Eurizon Capital SGR S.p.A. purchased a new stake in Parker-Hannifin during the fourth quarter worth about $185,532,000. Focus Partners Wealth boosted its stake in shares of Parker-Hannifin by 1,535.3% during the 4th quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company's stock worth $194,106,000 after acquiring an additional 207,495 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Parker-Hannifin by 119.3% during the first 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, Capital World Investors boosted its position in shares of Parker-Hannifin by 7.0% in the 3rd quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company's stock worth $1,959,166,000 after buying an additional 169,073 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 2.1%

Parker-Hannifin stock traded down $20.80 during trading on Tuesday, reaching $950.57. The company had a trading volume of 152,638 shares, compared to its average volume of 734,475. Parker-Hannifin Corporation has a 12-month low of $692.02 and a 12-month high of $1,034.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. The stock's 50 day moving average price is $907.42 and its two-hundred day moving average price is $928.07. The firm has a market capitalization of $119.86 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 2.57 and a beta of 1.11.

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

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were given a $2.00 dividend. This is an increase 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 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin's dividend payout ratio is 29.51%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Truist Financial upped their price target on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. cut their price target on Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. Wall Street Zen downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. BMO Capital Markets assumed coverage on Parker-Hannifin in a research note on Friday, March 27th. They set an "outperform" rating and a $1,090.00 price objective on the stock. Finally, Citigroup reiterated a "buy" rating on shares of Parker-Hannifin in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of "Moderate Buy" and a consensus target price of $1,026.86.

About Parker-Hannifin

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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