Caisse de depot et placement du Quebec Has $150.40 Million Stake in Parker-Hannifin Corporation $PH

Caisse de depot et placement du Quebec raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 2,666.0% in the 2nd quarter, Holdings Channel reports. The firm owned 153,761 shares of the industrial products company’s stock after purchasing an additional 148,202 shares during the quarter. Caisse de depot et placement du Quebec’s holdings in Parker-Hannifin were worth $150,397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PH. BlackRock Inc. bought a new stake in shares of Parker-Hannifin in the 2nd quarter valued at about $10,163,362,000. Norges Bank bought a new position in shares of Parker-Hannifin during the fourth quarter worth about $1,756,230,000. Deutsche Bank AG acquired a new position in shares of Parker-Hannifin in the second quarter worth approximately $987,587,000. Bank of New York Mellon Corp bought a new stake in Parker-Hannifin in the second quarter valued at approximately $712,222,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Parker-Hannifin in the second quarter valued at approximately $305,628,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Up 2.4%

NYSE PH opened at $1,040.76 on Thursday. The stock has a market capitalization of $131.19 billion, a P/E ratio of 36.53, a P/E/G ratio of 2.65 and a beta of 1.12. The business has a 50 day simple moving average of $989.76 and a 200 day simple moving average of $949.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. Parker-Hannifin Corporation has a one year low of $715.37 and a one year high of $1,099.94.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.31 by $0.96. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Research analysts expect that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin’s payout ratio is presently 28.08%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. BMO Capital Markets restated an “outperform” rating and set a $1,214.00 price target on shares of Parker-Hannifin in a report on Friday, August 7th. Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a research note on Monday, May 11th. Truist Financial increased their price objective on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Susquehanna increased their price objective on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. Finally, KeyCorp lifted their target price on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.

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.