Principal Financial Group Inc. Has $426.06 Million Holdings in Parker-Hannifin Corporation $PH

Key Points

• Principal Financial Group trimmed its Parker-Hannifin stake by 2.7% in the first quarter, though it still held 475,915 shares worth about $426.1 million at the end of the period.
• Parker-Hannifin reported strong quarterly results, with EPS of $8.17 beating estimates and revenue of $5.49 billion topping expectations, while revenue rose 10.6% year over year.
• The company also raised its dividend to $2.00 per quarter from $1.80, and analysts remain upbeat overall with a Moderate Buy consensus and an average price target of $1,026.86.

Principal Financial Group Inc. lessened its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 475,915 shares of the industrial products company's stock after selling 13,015 shares during the quarter. Principal Financial Group Inc. owned approximately 0.38% of Parker-Hannifin worth $426,059,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PH. Chicago Partners Investment Group LLC boosted its stake in Parker-Hannifin by 25.9% in the first quarter. Chicago Partners Investment Group LLC now owns 1,114 shares of the industrial products company's stock valued at $1,064,000 after acquiring an additional 229 shares during the last quarter. J. Safra Sarasin Holding AG bought a new stake in shares of Parker-Hannifin during the 1st quarter valued at $228,000. International Assets Investment Management LLC boosted its position in shares of Parker-Hannifin by 5.7% in the 1st quarter. International Assets Investment Management LLC now owns 539 shares of the industrial products company's stock worth $496,000 after purchasing an additional 29 shares during the last quarter. Diversify Wealth Management LLC boosted its position in shares of Parker-Hannifin by 111.6% in the 1st quarter. Diversify Wealth Management LLC now owns 1,043 shares of the industrial products company's stock worth $988,000 after purchasing an additional 550 shares during the last quarter. Finally, Welch & Forbes LLC grew its stake in shares of Parker-Hannifin by 4.4% during the first quarter. Welch & Forbes LLC now owns 2,614 shares of the industrial products company's stock worth $2,340,000 after purchasing an additional 109 shares during the period. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Down 1.1%

Shares of Parker-Hannifin stock opened at $951.14 on Tuesday. The company has a market capitalization of $119.93 billion, a P/E ratio of 35.08, a price-to-earnings-growth ratio of 2.57 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. The business has a 50-day moving average of $907.10 and a two-hundred day moving average of $931.43. Parker-Hannifin Corporation has a 1 year low of $692.02 and a 1 year high of $1,034.96.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, beating the consensus estimate of $7.84 by $0.33. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The business had revenue of $5.49 billion for the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter in the previous year, the business posted $6.94 EPS. Parker-Hannifin's revenue for the quarter was up 10.6% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, equities analysts predict that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were paid a $2.00 dividend. The ex-dividend date of this dividend was Friday, May 8th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.80. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin's payout ratio is presently 29.51%.

Wall Street Analysts Forecast Growth

PH has been the topic of several analyst reports. Truist Financial increased their target price on Parker-Hannifin from $1,147.00 to $1,269.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Mizuho set a $1,050.00 price target on Parker-Hannifin in a research note on Friday, May 1st. Wall Street Zen downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Wells Fargo & Company reduced their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 26th. Finally, Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and an average price target of $1,026.86.

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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