Parker-Hannifin Corporation $PH Shares Sold by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB cut its Parker-Hannifin stake by 30.3% in the first quarter, selling 157,625 shares and leaving it with 362,514 shares valued at about $324.5 million.
• Parker-Hannifin reported stronger-than-expected quarterly results, posting EPS of $8.17 versus the $7.84 consensus and revenue of $5.49 billion, with revenue up 10.6% year over year.
• The company raised its dividend to $2.00 per quarter from $1.80, while analysts remain broadly positive with a “Moderate Buy” consensus and an average price target of about $1,026.86.

AMF Tjanstepension AB lessened its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 30.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 362,514 shares of the industrial products company's stock after selling 157,625 shares during the period. Parker-Hannifin accounts for approximately 2.2% of AMF Tjanstepension AB's portfolio, making the stock its 14th largest holding. AMF Tjanstepension AB owned approximately 0.29% of Parker-Hannifin worth $324,537,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Fideuram Asset Management Ireland dac acquired a new position in Parker-Hannifin in the 4th quarter valued at approximately $1,253,000. Truist Financial Corp boosted its stake in shares of Parker-Hannifin by 2.7% during the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company's stock valued at $153,687,000 after buying an additional 4,673 shares during the period. Y.D. More Investments Ltd acquired a new stake in shares of Parker-Hannifin during the 4th quarter valued at $3,800,000. BCS Wealth Management grew its holdings in shares of Parker-Hannifin by 83.3% during the 4th quarter. BCS Wealth Management now owns 3,120 shares of the industrial products company's stock valued at $2,742,000 after acquiring an additional 1,418 shares in the last quarter. Finally, Shepherd Street Advisors LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter worth $1,736,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Trading Down 0.0%

Shares of PH stock opened at $960.96 on Monday. Parker-Hannifin Corporation has a 12 month low of $692.02 and a 12 month high of $1,034.96. The company has a market cap of $121.17 billion, a PE ratio of 35.45, a price-to-earnings-growth ratio of 2.57 and a beta of 1.11. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The business's 50 day moving average is $906.28 and its two-hundred day moving average is $930.98.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.84 by $0.33. The business had revenue of $5.49 billion during 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 quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Equities analysts predict that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were paid a $2.00 dividend. The ex-dividend date was Friday, May 8th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.80. 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

A number of analysts recently issued reports on PH shares. BMO Capital Markets assumed coverage on Parker-Hannifin in a research report on Friday, March 27th. They set an "outperform" rating and a $1,090.00 price objective for the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a research note on Tuesday, April 21st. Sanford C. Bernstein initiated coverage on Parker-Hannifin in a report on Tuesday, June 9th. They set an "outperform" rating and a $1,026.00 price target for the company. JPMorgan Chase & Co. lowered their price target on 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. Finally, Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.