Mattern Capital Management LLC Sells 2,664 Shares of Parker-Hannifin Corporation $PH

Mattern Capital Management LLC cut its stake in Parker-Hannifin Corporation (NYSE:PH) by 22.7% during the first quarter, HoldingsChannel reports. The firm owned 9,085 shares of the industrial products company’s stock after selling 2,664 shares during the period. Mattern Capital Management LLC’s holdings in Parker-Hannifin were worth $8,133,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Parker-Hannifin during the 4th quarter valued at about $1,756,230,000. Eurizon Capital SGR S.p.A. bought a new position in Parker-Hannifin in the 4th quarter worth about $185,532,000. Focus Partners Wealth increased 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 acquiring an additional 207,495 shares during the period. Assenagon Asset Management S.A. increased its position 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 acquiring an additional 185,367 shares during the period. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $104,040,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PH. Sanford C. Bernstein began coverage on Parker-Hannifin in a report on Tuesday, June 9th. They issued an “outperform” rating and a $1,026.00 price target for the company. Wall Street Zen downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. JPMorgan Chase & Co. decreased their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Wells Fargo & Company lowered their target price on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Finally, Citigroup reissued a “buy” rating on shares of Parker-Hannifin in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,026.86.

Parker-Hannifin Trading Down 1.1%

NYSE:PH opened at $951.14 on Tuesday. The firm has a 50-day simple moving average of $907.10 and a 200-day simple moving average of $931.43. Parker-Hannifin Corporation has a one year low of $692.02 and a one year high of $1,034.96. The firm has a market cap of $119.93 billion, a P/E ratio of 35.08, a P/E/G ratio of 2.57 and a beta of 1.11. 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 (NYSE:PH) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.84 by $0.33. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Equities analysts anticipate that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were issued a dividend of $2.00 per share. 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%. The ex-dividend date was Friday, May 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.51%.

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.