Citizens Financial Group Inc. RI Sells 989 Shares of Parker-Hannifin Corporation $PH

Citizens Financial Group Inc. RI lowered its position in Parker-Hannifin Corporation (NYSE:PH) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,744 shares of the industrial products company’s stock after selling 989 shares during the period. Citizens Financial Group Inc. RI’s holdings in Parker-Hannifin were worth $30,209,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Midwest Trust Co lifted its holdings in shares of Parker-Hannifin by 86.0% in the 1st quarter. Midwest Trust Co now owns 798 shares of the industrial products company’s stock worth $714,000 after purchasing an additional 369 shares in the last quarter. Fifth Third Bancorp raised its holdings in Parker-Hannifin by 25.0% during the first quarter. Fifth Third Bancorp now owns 188,806 shares of the industrial products company’s stock worth $169,027,000 after buying an additional 37,740 shares during the last quarter. WealthShield Partners LLC lifted its stake in shares of Parker-Hannifin by 683.5% in the first quarter. WealthShield Partners LLC now owns 3,048 shares of the industrial products company’s stock valued at $2,729,000 after buying an additional 2,659 shares in the last quarter. Simplicity Wealth LLC grew its holdings in shares of Parker-Hannifin by 21.7% during the first quarter. Simplicity Wealth LLC now owns 594 shares of the industrial products company’s stock valued at $532,000 after buying an additional 106 shares during the last quarter. Finally, Candriam S.C.A. increased its position in shares of Parker-Hannifin by 4.7% during the first quarter. Candriam S.C.A. now owns 70,629 shares of the industrial products company’s stock worth $63,230,000 after acquiring an additional 3,196 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 1.2%

PH stock traded up $11.79 during trading on Friday, reaching $960.96. The stock had a trading volume of 440,476 shares, compared to its average volume of 586,866. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $121.16 billion, a price-to-earnings ratio of 35.45, a P/E/G ratio of 2.57 and a beta of 1.11. Parker-Hannifin Corporation has a one year low of $692.02 and a one year high of $1,034.96. The company’s 50 day moving average is $906.28 and its two-hundred day moving average is $930.67.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the company earned $6.94 EPS. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. 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 year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. This is an increase 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%.

Analyst Ratings Changes

Several brokerages recently weighed in on PH. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. Mizuho set a $1,050.00 price objective on Parker-Hannifin in a report on Friday, May 1st. Evercore set a $1,064.00 price objective on Parker-Hannifin in a research note on Monday, May 11th. Truist Financial raised their target price on Parker-Hannifin from $1,147.00 to $1,269.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Sanford C. Bernstein initiated coverage on Parker-Hannifin in a report on Tuesday, June 9th. They set an “outperform” rating and a $1,026.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $1,026.86.

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.