Geode Capital Management LLC Trims Stock Position in Parker-Hannifin Corporation $PH

Geode Capital Management LLC cut its holdings in Parker-Hannifin Corporation (NYSE:PH) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,772,207 shares of the industrial products company’s stock after selling 10,784 shares during the quarter. Geode Capital Management LLC’s holdings in Parker-Hannifin were worth $2,425,375,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ING Groep NV purchased a new stake in shares of Parker-Hannifin in the 3rd quarter worth about $26,398,000. Citigroup Inc. grew its position in shares of Parker-Hannifin by 54.7% in the 3rd quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock worth $120,294,000 after buying an additional 56,103 shares during the period. Wilkinson Global Asset Management LLC grew its position in shares of Parker-Hannifin by 28.2% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock worth $36,720,000 after buying an additional 10,653 shares during the period. Advisors Capital Management LLC grew its position in shares of Parker-Hannifin by 140.0% in the 3rd quarter. Advisors Capital Management LLC now owns 2,232 shares of the industrial products company’s stock worth $1,693,000 after buying an additional 1,302 shares during the period. Finally, Truist Financial Corp grew its position in shares of Parker-Hannifin by 2.7% in the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after buying an additional 4,673 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

PH opened at $856.32 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. The stock has a market capitalization of $107.97 billion, a P/E ratio of 31.59, a P/E/G ratio of 2.52 and a beta of 1.18. The company’s 50-day simple moving average is $915.00 and its two-hundred day simple moving average is $916.01. Parker-Hannifin Corporation has a 52-week low of $646.51 and a 52-week high of $1,034.96.

Parker-Hannifin (NYSE:PH) last issued 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 firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, analysts predict that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be issued a $2.00 dividend. The ex-dividend date of this dividend is 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 0.9%. Parker-Hannifin’s payout ratio is 29.51%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a research report on Monday, May 11th. Truist Financial set a $1,147.00 price objective on shares of Parker-Hannifin in a research report on Friday, May 1st. Wall Street Zen raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a research report on Friday, May 1st. Finally, BMO Capital Markets assumed coverage on shares of Parker-Hannifin in a research report on Friday, March 27th. They set an “outperform” rating and a $1,090.00 price objective on the stock. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,020.80.

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.