Parker-Hannifin Corporation $PH Shares Sold by Evexia Wealth LLC

Key Points

• Evexia Wealth LLC trimmed its Parker-Hannifin stake by 13.4% in the first quarter, selling 2,101 shares and leaving it with 13,549 shares valued at about $13.4 million.
• Parker-Hannifin posted stronger-than-expected quarterly results, with EPS of $8.17 versus the $7.84 consensus and revenue of $5.49 billion, up 10.6% year over year.
• The company raised its dividend to $2.00 per share quarterly from $1.80, while analysts broadly remain positive with a consensus rating of Moderate Buy and an average price target of about $1,021.

Evexia Wealth LLC cut its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 13.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,549 shares of the industrial products company's stock after selling 2,101 shares during the quarter. Parker-Hannifin makes up approximately 3.8% of Evexia Wealth LLC's holdings, making the stock its 10th largest holding. Evexia Wealth LLC's holdings in Parker-Hannifin were worth $13,407,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of Parker-Hannifin by 5.9% in the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock worth $1,150,000 after buying an additional 101 shares during the last quarter. Bison Wealth LLC boosted its stake in Parker-Hannifin by 4.5% during the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company's stock valued at $476,000 after acquiring an additional 32 shares during the last quarter. Empowered Funds LLC boosted its stake in Parker-Hannifin by 0.5% during the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company's stock valued at $1,759,000 after acquiring an additional 15 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Parker-Hannifin by 26.2% during the 1st quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company's stock worth $484,000 after acquiring an additional 166 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its holdings in Parker-Hannifin by 3.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock worth $300,000 after acquiring an additional 15 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $954.25 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. Parker-Hannifin Corporation has a 12 month low of $646.51 and a 12 month high of $1,034.96. The company has a fifty day moving average price of $909.58 and a two-hundred day moving average price of $921.81. The company has a market cap of $120.32 billion, a PE ratio of 35.20, a P/E/G ratio of 2.77 and a beta of 1.14.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its 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. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The company had revenue of $5.49 billion for the quarter, compared to analysts' expectations of $5.40 billion. During the same period in the prior year, the company earned $6.94 earnings per share. The firm's revenue was up 10.6% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Research analysts expect that Parker-Hannifin Corporation will post 31.26 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.80. Parker-Hannifin's payout ratio is currently 29.51%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PH. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a "hold" rating in a research report on Friday, April 10th. Truist Financial set a $1,147.00 price target on shares of Parker-Hannifin in a research report on Friday, May 1st. Wells Fargo & Company decreased their price target on Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating for the company in a research note on Tuesday, May 26th. Sanford C. Bernstein began coverage on Parker-Hannifin in a report on Tuesday, June 9th. They issued an "outperform" rating and a $1,026.00 price objective for the company. Finally, Citigroup restated a "buy" rating on shares of Parker-Hannifin in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus target price of $1,021.05.

Parker-Hannifin Company 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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