Royal Bank of Canada Has $946.36 Million Stock Position in Parker-Hannifin Corporation $PH

Royal Bank of Canada cut its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 3.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,057,102 shares of the industrial products company’s stock after selling 36,631 shares during the period. Royal Bank of Canada owned 0.84% of Parker-Hannifin worth $946,359,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Fideuram Asset Management Ireland dac acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth $1,253,000. Truist Financial Corp grew its stake in shares of Parker-Hannifin by 2.7% in the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock valued at $153,687,000 after acquiring an additional 4,673 shares in the last quarter. Y.D. More Investments Ltd bought a new position in Parker-Hannifin during the fourth quarter worth about $3,800,000. BCS Wealth Management increased its position in Parker-Hannifin by 83.3% during the fourth quarter. BCS Wealth Management now owns 3,120 shares of the industrial products company’s stock worth $2,742,000 after acquiring an additional 1,418 shares during the period. Finally, Shepherd Street Advisors LLC acquired a new stake in Parker-Hannifin in the 4th quarter worth about $1,736,000. 82.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a report on Monday, May 11th. Mizuho set a $1,050.00 price target on shares of Parker-Hannifin in a research report on Friday, May 1st. JPMorgan Chase & Co. cut their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Stifel Nicolaus increased their target price on Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a report on Friday, April 10th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $1,037.00 price target on shares of Parker-Hannifin in a research report on Thursday, July 16th. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,027.38.

Parker-Hannifin Price Performance

Shares of PH stock opened at $990.91 on Wednesday. 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 Corporation has a twelve month low of $692.02 and a twelve month high of $1,034.96. The company has a market cap of $124.94 billion, a P/E ratio of 36.55, a P/E/G ratio of 2.64 and a beta of 1.11. The business has a fifty day simple moving average of $927.63 and a 200 day simple moving average of $937.19.

Parker-Hannifin (NYSE:PH) last released its earnings results 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. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. On average, sell-side analysts forecast that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

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.