Parker-Hannifin Corporation $PH Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lowered its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,261 shares of the industrial products company's stock after selling 1,854 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Parker-Hannifin were worth $33,708,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PH. ING Groep NV acquired a new position in shares of Parker-Hannifin in the third quarter valued at approximately $26,398,000. Citigroup Inc. raised its position in shares of Parker-Hannifin by 54.7% in the third quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company's stock valued at $120,294,000 after buying an additional 56,103 shares during the last quarter. Wilkinson Global Asset Management LLC raised its position in shares of Parker-Hannifin by 28.2% in the third quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company's stock valued at $36,720,000 after buying an additional 10,653 shares during the last quarter. Advisors Capital Management LLC raised its position in shares of Parker-Hannifin by 140.0% in the third quarter. Advisors Capital Management LLC now owns 2,232 shares of the industrial products company's stock valued at $1,693,000 after buying an additional 1,302 shares during the last quarter. Finally, Truist Financial Corp raised its position in shares of Parker-Hannifin by 2.7% in the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company's stock valued at $153,687,000 after buying an additional 4,673 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $852.23 on Wednesday. Parker-Hannifin Corporation has a 1 year low of $637.21 and a 1 year high of $1,034.96. The firm has a 50 day moving average price of $921.52 and a 200 day moving average price of $912.60. The company has a market cap of $107.57 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 2.50 and a beta of 1.18. 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 released its earnings results 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. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The firm 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 firm earned $6.94 earnings per share. Parker-Hannifin'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. Sell-side analysts predict 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 will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be paid a dividend of $2.00 per share. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.80. This represents a $8.00 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, May 8th. Parker-Hannifin's payout ratio is presently 29.51%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PH. Weiss Ratings reissued a "buy (b)" rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a research report on Monday, May 11th. Citigroup boosted their price objective on shares of Parker-Hannifin from $1,137.00 to $1,141.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Jefferies Financial Group boosted their price objective on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Finally, Truist Financial set a $1,147.00 price objective on shares of Parker-Hannifin in a research report on Friday, May 1st. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,022.30.

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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