Parker-Hannifin Corporation $PH Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC lessened its stake in Parker-Hannifin Corporation (NYSE:PH) by 92.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,387 shares of the industrial products company’s stock after selling 213,057 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Parker-Hannifin were worth $16,162,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Fideuram Asset Management Ireland dac bought a new stake in Parker-Hannifin during the fourth quarter valued at $1,253,000. Citigroup Inc. lifted 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 last quarter. Truist Financial Corp boosted its holdings 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 valued at $153,687,000 after buying an additional 4,673 shares during the period. Advisors Capital Management LLC boosted its holdings 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 valued at $1,693,000 after buying an additional 1,302 shares during the period. Finally, Y.D. More Investments Ltd bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $3,800,000. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PH has been the topic of a number of research reports. Wells Fargo & Company dropped their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Citigroup restated a “buy” rating on shares of Parker-Hannifin in a research note on Monday, June 8th. Evercore set a $1,064.00 target price on Parker-Hannifin in a research report on Monday, May 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Tuesday, April 21st. Finally, Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,021.05.

Parker-Hannifin Price Performance

NYSE PH opened at $954.25 on Friday. Parker-Hannifin Corporation has a 12 month low of $646.51 and a 12 month high of $1,034.96. The firm has a market capitalization of $120.32 billion, a PE ratio of 35.20, a P/E/G ratio of 2.75 and a beta of 1.14. The company’s 50 day simple moving average is $909.82 and its 200 day simple moving average is $921.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, topping analysts’ consensus estimates of $7.84 by $0.33. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.40 billion. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, equities research analysts forecast that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend 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 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.