Peapack Gladstone Financial Corp Trims Stock Position in Parker-Hannifin Corporation $PH

Key Points

• Peapack Gladstone Financial Corp cut its Parker-Hannifin stake by 74.8% in the fourth quarter, leaving it with 615 shares valued at about $541,000.
• Parker-Hannifin reported a strong quarter, with EPS of $8.17 beating estimates and revenue of $5.49 billion also topping expectations; quarterly revenue rose 10.6% year over year.
• The company raised its quarterly dividend to $2.00 per share from $1.80, and Wall Street remains bullish overall with a Moderate Buy consensus and an average price target of $1,020.80.

Peapack Gladstone Financial Corp lowered its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 74.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 615 shares of the industrial products company's stock after selling 1,825 shares during the period. Peapack Gladstone Financial Corp's holdings in Parker-Hannifin were worth $541,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. JFS Wealth Advisors LLC grew its stake in Parker-Hannifin by 6.8% during the fourth quarter. JFS Wealth Advisors LLC now owns 173 shares of the industrial products company's stock valued at $152,000 after acquiring an additional 11 shares in the last quarter. Avion Wealth grew its stake in Parker-Hannifin by 35.5% during the fourth quarter. Avion Wealth now owns 42 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 11 shares in the last quarter. 180 Wealth Advisors LLC grew its stake in Parker-Hannifin by 1.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 652 shares of the industrial products company's stock valued at $573,000 after acquiring an additional 12 shares in the last quarter. Altfest L J & Co. Inc. grew its stake in Parker-Hannifin by 4.4% during the fourth quarter. Altfest L J & Co. Inc. now owns 286 shares of the industrial products company's stock valued at $251,000 after acquiring an additional 12 shares in the last quarter. Finally, Berkshire Asset Management LLC PA grew its stake in Parker-Hannifin by 1.1% during the third quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company's stock valued at $916,000 after acquiring an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Trading Up 1.9%

Shares of PH opened at $852.05 on Thursday. The firm has a market cap of $107.43 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 2.43 and a beta of 1.14. 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 Corporation has a fifty-two week low of $646.51 and a fifty-two week high of $1,034.96. The firm has a 50 day moving average price of $909.11 and a 200-day moving average price of $915.80.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $5.49 billion during 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 period in the previous year, the business posted $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, equities research analysts forecast 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. Stockholders of record on Friday, May 8th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, May 8th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.80. Parker-Hannifin's dividend payout ratio (DPR) is presently 29.51%.

Wall Street Analysts Forecast Growth

PH has been the subject of several recent analyst reports. 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 note on Friday, May 1st. Truist Financial set a $1,147.00 price target on shares of Parker-Hannifin in a research note on Friday, May 1st. JPMorgan Chase & Co. cut their price target on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a research note on Thursday, May 7th. Morgan Stanley boosted their price target on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 24th. Finally, BMO Capital Markets initiated coverage on shares of Parker-Hannifin in a research note on Friday, March 27th. They issued an "outperform" rating and a $1,090.00 price target for the company. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average target price of $1,020.80.

About Parker-Hannifin

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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