Parker-Hannifin Corporation $PH Shares Sold by Vestcor Inc

Vestcor Inc decreased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 19.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,290 shares of the industrial products company’s stock after selling 814 shares during the period. Vestcor Inc’s holdings in Parker-Hannifin were worth $2,892,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fideuram Asset Management Ireland dac acquired a new stake in Parker-Hannifin in the fourth quarter worth $1,253,000. ING Groep NV acquired a new stake in Parker-Hannifin in the third quarter worth $26,398,000. Citigroup Inc. increased its position in Parker-Hannifin by 54.7% in the third 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. Truist Financial Corp increased its position in Parker-Hannifin by 2.7% in the fourth 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. Finally, Advisors Capital Management LLC increased its stake in shares of Parker-Hannifin by 140.0% in the third quarter. Advisors Capital Management LLC now owns 2,232 shares of the industrial products company’s stock valued at $1,693,000 after purchasing an additional 1,302 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 1.3%

Parker-Hannifin stock opened at $883.20 on Friday. The firm’s 50 day moving average price is $907.35 and its two-hundred day moving average price is $915.87. The firm has a market cap of $111.36 billion, a price-to-earnings ratio of 32.58, a price-to-earnings-growth ratio of 2.57 and a beta of 1.14. Parker-Hannifin Corporation has a 1 year low of $646.51 and a 1 year high of $1,034.96. 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 issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter last year, the business posted $6.94 EPS. Parker-Hannifin’s revenue was up 10.6% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. On average, research analysts predict that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, May 8th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.80. Parker-Hannifin’s dividend payout ratio is presently 29.51%.

Wall Street Analyst Weigh In

PH has been the topic of several analyst reports. Mizuho set a $1,050.00 price target on shares of Parker-Hannifin in a research note on Friday, May 1st. JPMorgan Chase & Co. dropped their price target on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Citigroup raised their price target on shares of Parker-Hannifin from $1,137.00 to $1,141.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Evercore set a $1,064.00 price target on shares of Parker-Hannifin in a research note on Monday, May 11th. Finally, Wells Fargo & Company lowered their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Seventeen 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, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,020.80.

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.