Parker-Hannifin Corporation $PH Shares Sold by Banyan Capital Management Inc.

Key Points

• Banyan Capital Management cut its stake in Parker-Hannifin by 16.6% in the first quarter, selling 3,095 shares and leaving it with 15,579 shares valued at about $13.95 million.
• Parker-Hannifin reported strong quarterly results, with EPS of $8.17 beating estimates and revenue of $5.49 billion topping expectations; revenue rose 10.6% year over year.
• The company also raised its quarterly dividend to $2.00 from $1.80, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $1,026.86.

Banyan Capital Management Inc. lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 16.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,579 shares of the industrial products company's stock after selling 3,095 shares during the quarter. Parker-Hannifin comprises about 6.0% of Banyan Capital Management Inc.'s holdings, making the stock its 6th largest position. Banyan Capital Management Inc.'s holdings in Parker-Hannifin were worth $13,947,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC increased its holdings 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 purchasing an additional 11 shares during the period. Avion Wealth grew its position in Parker-Hannifin by 35.5% in the 4th quarter. Avion Wealth now owns 42 shares of the industrial products company's stock valued at $36,000 after buying an additional 11 shares during the last quarter. Optas LLC grew its position in Parker-Hannifin by 3.1% in the 1st quarter. Optas LLC now owns 370 shares of the industrial products company's stock valued at $331,000 after buying an additional 11 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in Parker-Hannifin by 1.8% in the 4th 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 during the period. Finally, Inspire Advisors LLC increased its stake in Parker-Hannifin by 1.2% in the 4th 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 during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded up $11.79 during trading on Friday, hitting $960.96. 440,476 shares of the company were exchanged, compared to its average volume of 586,866. Parker-Hannifin Corporation has a fifty-two week low of $692.02 and a fifty-two week high of $1,034.96. 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 firm has a 50 day moving average price of $906.28 and a 200 day moving average price of $930.67. The stock has a market capitalization of $121.16 billion, a price-to-earnings ratio of 35.45, a P/E/G ratio of 2.57 and a beta of 1.11.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, beating analysts' consensus estimates of $7.84 by $0.33. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The firm had revenue of $5.49 billion for the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter in the prior year, the firm earned $6.94 EPS. Parker-Hannifin'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. On average, 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 paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.80. Parker-Hannifin's dividend payout ratio is presently 29.51%.

Analysts Set New Price Targets

PH has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating for the company in a research note on Tuesday, May 26th. Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a "hold" rating in a report on Friday, April 10th. Citigroup restated a "buy" rating on shares of Parker-Hannifin in a research report on Monday, June 8th. Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. Finally, Evercore set a $1,064.00 target price on 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 issued a Hold rating to the company. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of "Moderate Buy" and a consensus price target 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.

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