Parker-Hannifin Corporation $PH Shares Sold by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC reduced its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 51.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 724 shares of the industrial products company’s stock after selling 763 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Parker-Hannifin were worth $648,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. HFM Investment Advisors LLC increased its stake in shares of Parker-Hannifin by 1,000.0% during the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 30 shares in the last quarter. Texas Capital Bancshares Inc TX purchased a new position in shares of Parker-Hannifin during the 3rd quarter worth about $25,000. Lloyd Advisory Services LLC. acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $31,000. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of Parker-Hannifin by 80.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock worth $32,000 after buying an additional 16 shares during the period. Finally, First Command Advisory Services Inc. boosted its holdings in Parker-Hannifin by 1,133.3% in the fourth quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 34 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on PH shares. 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 target for the company. Evercore set a $1,064.00 target price on Parker-Hannifin in a report on Monday, May 11th. Wells Fargo & Company dropped their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. Finally, Truist Financial set a $1,147.00 price objective on shares of Parker-Hannifin in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,021.05.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $967.92 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. Parker-Hannifin Corporation has a 1-year low of $691.47 and a 1-year high of $1,034.96. The company has a market capitalization of $122.05 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 2.82 and a beta of 1.14. The business has a 50-day moving average of $908.10 and a 200-day moving average of $924.81.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate of $7.84 by $0.33. The business 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 revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. On average, equities analysts anticipate that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, May 8th. 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 dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio is presently 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.