Parker-Hannifin Corporation $PH Shares Sold by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC cut its Parker-Hannifin stake by 92.1% in the fourth quarter, selling 213,057 shares and leaving it with 18,387 shares worth about $16.2 million.
• Parker-Hannifin reported strong quarterly results, with EPS of $8.17 topping estimates and revenue of $5.49 billion beating expectations; revenue also rose 10.6% year over year.
• The company raised its quarterly dividend to $2.00 per share from $1.80, while analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of about $1,021.

Kovitz Investment Group Partners LLC cut its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 92.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,387 shares of the industrial products company's stock after selling 213,057 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Parker-Hannifin were worth $16,162,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Parker-Hannifin by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company's stock worth $9,793,843,000 after purchasing an additional 33,606 shares during the period. Bank of America Corp DE lifted its position in Parker-Hannifin by 0.6% during the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company's stock worth $3,451,584,000 after buying an additional 22,305 shares during the period. Capital World Investors grew its holdings in Parker-Hannifin by 0.6% in the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company's stock valued at $2,286,038,000 after buying an additional 16,703 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Parker-Hannifin by 0.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company's stock valued at $1,674,132,000 after acquiring an additional 13,309 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Parker-Hannifin by 1.1% during the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company's stock worth $1,874,862,000 after acquiring an additional 22,367 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $954.25 on Friday. The firm has a market capitalization of $120.32 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 2.75 and a beta of 1.14. Parker-Hannifin Corporation has a one year low of $646.51 and a one year high of $1,034.96. The stock's 50 day moving average price is $909.82 and its 200 day moving average price is $921.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13.

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, beating analysts' consensus estimates of $7.84 by $0.33. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The business's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, sell-side analysts expect that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders 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 is a positive change from Parker-Hannifin's previous quarterly dividend of $1.80. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin's dividend payout ratio is presently 29.51%.

Analysts Set New Price Targets

Several equities analysts recently commented on PH shares. Mizuho set a $1,050.00 price target on shares of Parker-Hannifin in a research report on Friday, May 1st. JPMorgan Chase & Co. cut their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating on the stock in a research report on Thursday, May 7th. Weiss Ratings restated a "buy (b)" rating on shares of Parker-Hannifin in a research note on Tuesday, April 21st. Evercore set a $1,064.00 price objective on Parker-Hannifin in a research note on Monday, May 11th. Finally, Sanford C. Bernstein began coverage on shares of Parker-Hannifin in a research report on Tuesday, June 9th. They set an "outperform" rating and a $1,026.00 target price for the company. One equities 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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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