iA Global Asset Management Inc. Has $14.61 Million Stock Position in Parker-Hannifin Corporation $PH

iA Global Asset Management Inc. reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 21.9% in the 1st quarter, HoldingsChannel reports. The firm owned 16,318 shares of the industrial products company’s stock after selling 4,582 shares during the period. iA Global Asset Management Inc.’s holdings in Parker-Hannifin were worth $14,609,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. MQS Management LLC bought a new stake in Parker-Hannifin during the first quarter worth about $585,000. Premier Path Wealth Partners LLC raised its stake in shares of Parker-Hannifin by 18.8% in the first quarter. Premier Path Wealth Partners LLC now owns 2,788 shares of the industrial products company’s stock valued at $2,496,000 after acquiring an additional 441 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Parker-Hannifin by 13.3% in the first quarter. SJS Investment Consulting Inc. now owns 119 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 14 shares during the last quarter. Intrua Financial LLC boosted its holdings in shares of Parker-Hannifin by 8.0% in the 1st quarter. Intrua Financial LLC now owns 757 shares of the industrial products company’s stock worth $677,000 after acquiring an additional 56 shares in the last quarter. Finally, Simmons Bank grew its position in Parker-Hannifin by 5.8% during the 1st quarter. Simmons Bank now owns 6,047 shares of the industrial products company’s stock worth $5,413,000 after acquiring an additional 332 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Up 1.5%

PH stock opened at $978.15 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. Parker-Hannifin Corporation has a twelve month low of $691.47 and a twelve month high of $1,034.96. The company has a market cap of $123.33 billion, a P/E ratio of 36.08, a PEG ratio of 2.80 and a beta of 1.14. The business has a fifty day moving average of $908.04 and a 200-day moving average of $926.47.

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

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were paid a $2.00 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend was Friday, May 8th. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin’s payout ratio is 29.51%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Truist Financial set a $1,147.00 price target on Parker-Hannifin in a report on Friday, May 1st. BMO Capital Markets initiated coverage on Parker-Hannifin in a report on Friday, March 27th. They set an “outperform” rating and a $1,090.00 target price on the stock. Sanford C. Bernstein started coverage on Parker-Hannifin in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $1,026.00 target price for the company. Evercore set a $1,064.00 price target on Parker-Hannifin in a report on Monday, May 11th. Finally, Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,021.05.

Parker-Hannifin Company 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.