Wealthfront Advisers LLC Boosts Stock Holdings in Parker-Hannifin Corporation $PH

Key Points

• Wealthfront Advisers LLC boosted its Parker-Hannifin stake by 9.3% in the first quarter, adding 1,506 shares to bring its total to 17,632 shares valued at about $15.8 million.
• Institutional ownership in Parker-Hannifin remains very high at 82.44%, with several other hedge funds and asset managers also making sizable new or increased positions.
• Parker-Hannifin reported stronger-than-expected quarterly results, beating EPS and revenue estimates, and it also raised its quarterly dividend from $1.80 to $2.00 per share.

Wealthfront Advisers LLC increased its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,632 shares of the industrial products company's stock after acquiring an additional 1,506 shares during the period. Wealthfront Advisers LLC's holdings in Parker-Hannifin were worth $15,785,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

PH has been the subject of a number of recent research reports. BMO Capital Markets began 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. Wells Fargo & Company dropped 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 report on Tuesday, May 26th. Sanford C. Bernstein restated an "outperform" rating and issued a $1,037.00 price objective on shares of Parker-Hannifin in a report on Thursday. Truist Financial lifted their price objective on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Finally, Citigroup reissued a "buy" rating on shares of Parker-Hannifin in a report on Monday, June 8th. Eighteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and an average target price of $1,027.38.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $958.28 on Friday. 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's 50 day moving average is $911.34 and its two-hundred day moving average is $932.91. The firm has a market capitalization of $120.83 billion, a P/E ratio of 35.35, a P/E/G ratio of 2.54 and a beta of 1.11.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the business earned $6.94 EPS. Parker-Hannifin's revenue for the quarter 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. Research analysts forecast that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $8.00 annualized dividend and a yield of 0.8%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.80. Parker-Hannifin's dividend payout ratio (DPR) is currently 29.51%.

Parker-Hannifin 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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