Principal Financial Group Inc. Sells 13,015 Shares of Parker-Hannifin Corporation $PH

Principal Financial Group Inc. trimmed its position in Parker-Hannifin Corporation (NYSE:PH) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 475,915 shares of the industrial products company’s stock after selling 13,015 shares during the period. Principal Financial Group Inc.’s holdings in Parker-Hannifin were worth $426,059,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its position in Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after buying an additional 101 shares during the last quarter. Bison Wealth LLC boosted its position in Parker-Hannifin by 4.5% during the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock worth $476,000 after acquiring an additional 32 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Parker-Hannifin by 0.5% during the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after acquiring an additional 15 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Parker-Hannifin by 26.2% in the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock valued at $484,000 after purchasing an additional 166 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its position in shares of Parker-Hannifin by 3.6% in the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 15 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 1.1%

Shares of Parker-Hannifin stock opened at $951.14 on Tuesday. The business has a fifty day simple moving average of $907.10 and a two-hundred day simple moving average of $931.43. Parker-Hannifin Corporation has a 1 year low of $692.02 and a 1 year high of $1,034.96. The company has a market capitalization of $119.93 billion, a price-to-earnings ratio of 35.08, a P/E/G ratio of 2.57 and a beta of 1.11. 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 (NYSE:PH) last released its quarterly earnings data 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. 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 quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Research analysts forecast that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were paid a $2.00 dividend. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.80. The ex-dividend date was Friday, May 8th. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.51%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PH. Mizuho set a $1,050.00 target price on shares of Parker-Hannifin in a report on Friday, May 1st. Wall Street Zen cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Wells Fargo & Company reduced their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. Sanford C. Bernstein assumed coverage on Parker-Hannifin in a report on Tuesday, June 9th. They issued an “outperform” rating and a $1,026.00 price objective for the company. Finally, Truist Financial raised their target price on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.