Parker-Hannifin Corporation $PH Stake Increased by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its stake in Parker-Hannifin by 25% in the first quarter, bringing its holdings to 188,806 shares worth about $169 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 82.44% of the company’s stock; several firms also added large new positions recently.
• Parker-Hannifin topped earnings expectations, reporting $8.17 EPS on $5.49 billion in revenue, and it also raised its quarterly dividend to $2.00 per share from $1.80.

Fifth Third Bancorp boosted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 25.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 188,806 shares of the industrial products company's stock after buying an additional 37,740 shares during the period. Fifth Third Bancorp owned approximately 0.15% of Parker-Hannifin worth $169,027,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $1,756,230,000. Eurizon Capital SGR S.p.A. acquired a new stake in Parker-Hannifin during the fourth quarter valued at $185,532,000. Focus Partners Wealth grew its stake in Parker-Hannifin by 1,535.3% in the fourth quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company's stock valued at $194,106,000 after purchasing an additional 207,495 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Parker-Hannifin by 119.3% in the first quarter. Assenagon Asset Management S.A. now owns 340,727 shares of the industrial products company's stock valued at $305,032,000 after purchasing an additional 185,367 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in Parker-Hannifin in the 4th quarter worth about $104,040,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PH. Evercore set a $1,064.00 price target on Parker-Hannifin in a report on Monday, May 11th. Mizuho set a $1,050.00 target price on shares of Parker-Hannifin in a research note on Friday, May 1st. Citigroup reissued a "buy" rating on shares of Parker-Hannifin in a research report on Monday, June 8th. Sanford C. Bernstein initiated coverage on shares of Parker-Hannifin in a research note on Tuesday, June 9th. They set an "outperform" rating and a $1,026.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,026.86.

Parker-Hannifin Stock Performance

Shares of NYSE:PH traded up $11.79 during trading on Friday, reaching $960.96. The stock had a trading volume of 440,476 shares, compared to its average volume of 586,866. The stock has a fifty day simple moving average of $906.28 and a two-hundred day simple moving average of $930.67. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. Parker-Hannifin Corporation has a 52 week low of $692.02 and a 52 week high of $1,034.96. The firm 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 posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, topping the consensus estimate of $7.84 by $0.33. The business had revenue of $5.49 billion during the quarter, compared to analysts' expectations of $5.40 billion. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The firm's revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, analysts anticipate 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. The ex-dividend date 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 currently 29.51%.

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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