TD Asset Management Inc Has $199.39 Million Stake in Parker-Hannifin Corporation $PH

TD Asset Management Inc trimmed its position in Parker-Hannifin Corporation (NYSE:PH) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,851 shares of the industrial products company’s stock after selling 14,167 shares during the quarter. TD Asset Management Inc’s holdings in Parker-Hannifin were worth $199,393,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Parker-Hannifin by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock valued at $9,793,843,000 after purchasing an additional 33,606 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Parker-Hannifin by 0.6% in the third quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company’s stock valued at $2,960,266,000 after purchasing an additional 22,706 shares in the last quarter. Capital World Investors raised its stake in shares of Parker-Hannifin by 7.0% in the third quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock valued at $1,959,166,000 after purchasing an additional 169,073 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Parker-Hannifin by 0.6% in the third quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company’s stock valued at $1,674,132,000 after purchasing an additional 13,309 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at $1,756,230,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PH shares. Stifel Nicolaus upped their target price on Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a research note on Friday, April 10th. Mizuho set a $1,050.00 price objective on Parker-Hannifin in a research note on Friday, May 1st. Wells Fargo & Company dropped their price objective on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. Citigroup increased their price objective on Parker-Hannifin from $1,137.00 to $1,141.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Finally, BMO Capital Markets initiated coverage on Parker-Hannifin in a research note on Friday, March 27th. They set an “outperform” rating and a $1,090.00 price objective for the company. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,020.80.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $873.05 on Friday. 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 stock has a fifty day moving average price of $908.09 and a two-hundred day moving average price of $916.10. Parker-Hannifin Corporation has a 52-week low of $646.51 and a 52-week high of $1,034.96. The firm has a market capitalization of $110.08 billion, a P/E ratio of 32.20, a P/E/G ratio of 2.47 and a beta of 1.14.

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, topping 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 firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the company posted $6.94 earnings per share. The business’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. As a group, analysts anticipate that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. The ex-dividend date is Friday, May 8th. Parker-Hannifin’s dividend payout ratio is 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.