Caisse DE Depot ET Placement DU Quebec Has $5.02 Million Stock Position in Parker-Hannifin Corporation $PH

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in Parker-Hannifin by 52.9%, selling 9,268 shares, thus holding 8,260 shares worth approximately $5 million as per its latest SEC filing.
• Analysts have set varying price targets for Parker-Hannifin, with a consensus price target of $768.71 and 14 analysts rating it as a Buy.
• Parker-Hannifin announced a quarterly dividend of $1.80 per share, with a dividend yield of 0.9%, payable on September 12th to shareholders of record on September 2nd.

Caisse DE Depot ET Placement DU Quebec decreased its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 52.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,260 shares of the industrial products company's stock after selling 9,268 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Parker-Hannifin were worth $5,021,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Parker-Hannifin by 1.6% during the first quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company's stock valued at $6,700,795,000 after acquiring an additional 168,990 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Parker-Hannifin by 52.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company's stock valued at $1,485,042,000 after acquiring an additional 842,262 shares during the period. Royal Bank of Canada boosted its holdings in shares of Parker-Hannifin by 99.8% during the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock valued at $1,448,241,000 after acquiring an additional 1,137,564 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Parker-Hannifin by 9.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company's stock valued at $1,282,294,000 after acquiring an additional 172,064 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Parker-Hannifin by 11.6% during the first quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company's stock valued at $1,221,323,000 after acquiring an additional 208,573 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Buying and Selling

In other Parker-Hannifin news, EVP Joseph R. Leonti sold 4,625 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $750.84, for a total value of $3,472,635.00. Following the completion of the sale, the executive vice president directly owned 13,878 shares of the company's stock, valued at approximately $10,420,157.52. This represents a 25.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 4,361 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $732.66, for a total transaction of $3,195,130.26. Following the completion of the transaction, the chief operating officer owned 13,120 shares of the company's stock, valued at approximately $9,612,499.20. The trade was a 24.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,039 shares of company stock worth $10,356,566 in the last ninety days. Insiders own 0.39% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on PH. Morgan Stanley upped their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a report on Friday, May 16th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Parker-Hannifin in a report on Friday, August 8th. Citigroup reaffirmed a "buy" rating and issued a $831.00 price objective (up previously from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Finally, Cowen reaffirmed a "hold" rating on shares of Parker-Hannifin in a report on Friday. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $768.71.

Parker-Hannifin Price Performance

NYSE PH traded down $7.79 on Tuesday, reaching $749.76. The company's stock had a trading volume of 266,679 shares, compared to its average volume of 748,181. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $773.30. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The stock has a market cap of $95.80 billion, a PE ratio of 27.63, a PEG ratio of 3.15 and a beta of 1.35. The firm's 50 day moving average is $725.67 and its two-hundred day moving average is $663.37.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the prior year, the company earned $6.77 EPS. Parker-Hannifin's revenue was up 1.1% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. As a group, sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd will be issued a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio is presently 26.55%.

Parker-Hannifin Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.