Peapack Gladstone Financial Corp Sells 1,825 Shares of Parker-Hannifin Corporation $PH

Peapack Gladstone Financial Corp reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 74.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 615 shares of the industrial products company’s stock after selling 1,825 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Parker-Hannifin were worth $541,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PH. Norges Bank bought a new stake in Parker-Hannifin during the 4th quarter valued at $1,756,230,000. Eurizon Capital SGR S.p.A. bought a new stake in Parker-Hannifin during the 4th quarter valued at $185,532,000. Capital World Investors raised its holdings in Parker-Hannifin by 7.0% during the 3rd quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock valued at $1,959,166,000 after buying an additional 169,073 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in Parker-Hannifin during the 4th quarter valued at $104,040,000. Finally, California Public Employees Retirement System increased its position in Parker-Hannifin by 51.3% during the 3rd quarter. California Public Employees Retirement System now owns 336,247 shares of the industrial products company’s stock valued at $254,926,000 after purchasing an additional 114,008 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research analyst reports. Weiss Ratings reissued 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 shares of Parker-Hannifin in a research report on Friday, May 1st. Morgan Stanley boosted their price objective on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 24th. Wells Fargo & Company reduced their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Finally, Wall Street Zen raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,020.80.

Parker-Hannifin Stock Up 1.9%

NYSE:PH opened at $852.05 on Thursday. The firm’s 50-day moving average price is $909.11 and its 200-day moving average price is $915.80. The company has a market capitalization of $107.43 billion, a PE ratio of 31.43, a P/E/G ratio of 2.43 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. Parker-Hannifin Corporation has a 1-year low of $646.51 and a 1-year high of $1,034.96.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, topping analysts’ consensus estimates of $7.84 by $0.33. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. On average, equities analysts predict that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be given a dividend of $2.00 per share. This is a positive change 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 yield of 0.9%. Parker-Hannifin’s 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.