Resona Asset Management Co. Ltd. Acquires 834 Shares of Parker-Hannifin Corporation $PH

Resona Asset Management Co. Ltd. raised its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,095 shares of the industrial products company’s stock after acquiring an additional 834 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Parker-Hannifin were worth $34,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PH. Brighton Jones LLC increased its position in Parker-Hannifin by 5.9% in the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock worth $1,150,000 after buying an additional 101 shares in the last quarter. Bison Wealth LLC raised its stake in shares of Parker-Hannifin by 4.5% in the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock worth $476,000 after buying an additional 32 shares during the period. Empowered Funds LLC lifted its position in shares of Parker-Hannifin by 0.5% during the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock valued at $1,759,000 after buying an additional 15 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Parker-Hannifin by 26.2% during the 1st quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock valued at $484,000 after buying an additional 166 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its stake in shares of Parker-Hannifin by 3.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after acquiring an additional 15 shares during the period. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PH shares. JPMorgan Chase & Co. reduced their target price on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. BMO Capital Markets assumed coverage on shares of Parker-Hannifin in a research report on Friday, March 27th. They issued an “outperform” rating and a $1,090.00 price target for the company. Citigroup reissued a “buy” rating on shares of Parker-Hannifin in a research note on Monday, June 8th. Finally, Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $1,026.86.

Parker-Hannifin Stock Performance

NYSE:PH opened at $940.32 on Thursday. The stock has a 50-day moving average price of $906.28 and a 200 day moving average price of $929.93. The stock has a market capitalization of $118.57 billion, a P/E ratio of 34.69, a P/E/G ratio of 2.56 and a beta of 1.11. Parker-Hannifin Corporation has a 12-month low of $692.02 and a 12-month high of $1,034.96. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results 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. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the firm earned $6.94 EPS. The firm’s revenue 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. Equities research analysts forecast that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were issued a $2.00 dividend. This represents a $8.00 annualized dividend 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 of this dividend was Friday, May 8th. Parker-Hannifin’s payout ratio is presently 29.51%.

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.