Canada Pension Plan Investment Board Reduces Stock Position in Parker-Hannifin Corporation $PH

Canada Pension Plan Investment Board trimmed its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.8% in the 2nd quarter, Holdings Channel reports. The firm owned 389,235 shares of the industrial products company’s stock after selling 11,360 shares during the period. Canada Pension Plan Investment Board’s holdings in Parker-Hannifin were worth $380,719,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Texas Capital Bancshares Inc TX purchased a new stake in Parker-Hannifin during the 3rd quarter valued at $25,000. HFM Investment Advisors LLC lifted its holdings 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 valued at $29,000 after buying an additional 30 shares during the period. Lloyd Advisory Services LLC. purchased a new position in shares of Parker-Hannifin in the 4th quarter worth $31,000. NFSG Corp grew its holdings in shares of Parker-Hannifin by 94.4% in the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 17 shares during the period. Finally, First Command Advisory Services Inc. grew its holdings in shares of 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 worth $33,000 after acquiring an additional 34 shares during the period. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PH. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Citigroup upped their price target on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a research report on Friday, August 7th. BNP Paribas Exane reiterated an “outperform” rating and issued a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Truist Financial raised their price objective on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Susquehanna boosted their target price on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a research report on Friday, August 7th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $1,100.00.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $1,015.36 on Wednesday. The stock has a market cap of $127.99 billion, a P/E ratio of 35.64, a P/E/G ratio of 2.64 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The stock’s fifty day moving average is $987.88 and its 200 day moving average is $949.41. Parker-Hannifin Corporation has a one year low of $715.37 and a one year high of $1,099.94.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.31 by $0.96. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.Parker-Hannifin’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be paid a dividend of $2.00 per share. The ex-dividend date is Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin’s payout ratio is 28.08%.

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.