Parker-Hannifin Corporation $PH Shares Sold by Arax Advisory Partners

Key Points

• Arax Advisory Partners cut its Parker-Hannifin stake by 59.3% in the fourth quarter, selling 3,488 shares and leaving it with 2,398 shares valued at about $2.1 million.
• Parker-Hannifin reported better-than-expected quarterly results, with earnings of $8.17 per share versus $7.84 expected and revenue of $5.49 billion, up 10.6% year over year.
• The company raised its quarterly dividend to $2.00 per share from $1.80, and analysts currently rate the stock a Moderate Buy with an average price target of about $1,021.

Arax Advisory Partners decreased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 59.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,398 shares of the industrial products company's stock after selling 3,488 shares during the quarter. Arax Advisory Partners' holdings in Parker-Hannifin were worth $2,107,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC grew its stake in shares of Parker-Hannifin by 6.8% in the fourth quarter. JFS Wealth Advisors LLC now owns 173 shares of the industrial products company's stock valued at $152,000 after buying an additional 11 shares in the last quarter. Avion Wealth grew its stake in shares of Parker-Hannifin by 35.5% in the fourth quarter. Avion Wealth now owns 42 shares of the industrial products company's stock valued at $36,000 after buying an additional 11 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of Parker-Hannifin by 1.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company's stock valued at $540,000 after buying an additional 11 shares in the last quarter. Inspire Advisors LLC grew its stake in shares of Parker-Hannifin by 1.2% in the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company's stock valued at $807,000 after buying an additional 11 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its stake in shares of Parker-Hannifin by 1.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 652 shares of the industrial products company's stock valued at $573,000 after buying an additional 12 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Up 1.7%

Parker-Hannifin stock opened at $919.22 on Tuesday. Parker-Hannifin Corporation has a fifty-two week low of $646.51 and a fifty-two week 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 company has a market capitalization of $115.90 billion, a P/E ratio of 33.91, a PEG ratio of 2.63 and a beta of 1.14. The stock has a 50-day simple moving average of $907.65 and a 200-day simple moving average of $919.33.

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

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $8.00 annualized dividend and a yield of 0.9%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.80. Parker-Hannifin's dividend payout ratio (DPR) is currently 29.51%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PH shares. Mizuho set a $1,050.00 target price on Parker-Hannifin in a report on Friday, May 1st. JPMorgan Chase & Co. decreased their target price 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. Wells Fargo & Company decreased their target price on Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating for the company in a report on Tuesday, May 26th. Sanford C. Bernstein started coverage on Parker-Hannifin in a report on Tuesday, June 9th. They issued an "outperform" rating and a $1,026.00 target price for the company. Finally, Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus price target of $1,021.05.

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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