iA Global Asset Management Inc. Raises Holdings in Parker-Hannifin Corporation $PH

iA Global Asset Management Inc. increased its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 20.6% in the 4th quarter, Holdings Channel reports. The firm owned 20,900 shares of the industrial products company’s stock after purchasing an additional 3,570 shares during the period. iA Global Asset Management Inc.’s holdings in Parker-Hannifin were worth $18,370,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. ING Groep NV acquired a new position in Parker-Hannifin during the third quarter worth $26,398,000. Citigroup Inc. boosted its stake in Parker-Hannifin by 54.7% during the third quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock worth $120,294,000 after buying an additional 56,103 shares during the last quarter. Wilkinson Global Asset Management LLC boosted its stake in Parker-Hannifin by 28.2% during the third quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock worth $36,720,000 after buying an additional 10,653 shares during the last quarter. Advisors Capital Management LLC boosted its stake in Parker-Hannifin by 140.0% during the third quarter. Advisors Capital Management LLC now owns 2,232 shares of the industrial products company’s stock worth $1,693,000 after buying an additional 1,302 shares during the last quarter. Finally, Truist Financial Corp boosted its stake in Parker-Hannifin by 2.7% during the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after buying an additional 4,673 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on PH. Evercore set a $1,064.00 price objective on Parker-Hannifin in a research note on Monday, May 11th. JPMorgan Chase & Co. lowered their price objective on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Morgan Stanley boosted their price objective on Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 24th. Finally, Truist Financial set a $1,147.00 price objective on Parker-Hannifin in a research note on Friday, May 1st. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,022.30.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $861.31 on Friday. Parker-Hannifin Corporation has a 52 week low of $637.21 and a 52 week high of $1,034.96. The business’s fifty day simple moving average is $925.06 and its 200-day simple moving average is $910.46. The firm has a market cap of $108.71 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 2.51 and a beta of 1.18. 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 (NYSE:PH) last announced its quarterly 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. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the company posted $6.94 EPS. The company’s quarterly revenue 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 analysts forecast that Parker-Hannifin Corporation will post 31.26 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be 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 is Friday, May 8th. This represents a $8.00 annualized dividend and a dividend yield of 0.9%. Parker-Hannifin’s dividend payout ratio is currently 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.