Westfield Capital Management Co. LP Purchases 50,701 Shares of Parker-Hannifin Corporation $PH

Westfield Capital Management Co. LP increased its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 706.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 57,873 shares of the industrial products company’s stock after buying an additional 50,701 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Parker-Hannifin were worth $50,868,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Fideuram Asset Management Ireland dac acquired a new position in shares of Parker-Hannifin during the fourth quarter worth $1,253,000. ING Groep NV acquired a new position in shares of Parker-Hannifin during the third quarter worth $26,398,000. Citigroup Inc. lifted its holdings in Parker-Hannifin by 54.7% in the third quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock valued at $120,294,000 after buying an additional 56,103 shares during the period. Truist Financial Corp lifted its holdings in 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 buying an additional 4,673 shares during the period. Finally, Advisors Capital Management LLC raised its position in shares of Parker-Hannifin by 140.0% in the 3rd quarter. Advisors Capital Management LLC now owns 2,232 shares of the industrial products company’s stock worth $1,693,000 after acquiring an additional 1,302 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Up 1.3%

NYSE:PH opened at $883.20 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. The firm has a 50-day moving average of $907.35 and a 200-day moving average of $915.87. The company has a market cap of $111.36 billion, a PE ratio of 32.58, a PEG ratio of 2.54 and a beta of 1.14. Parker-Hannifin Corporation has a one year low of $646.51 and a one year high of $1,034.96.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, topping the consensus estimate of $7.84 by $0.33. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the firm posted $6.94 earnings per share. The firm’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. As a group, equities research analysts expect 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 was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.80. Parker-Hannifin’s payout ratio is currently 29.51%.

Analysts Set New Price Targets

PH has been the subject of a number of research analyst reports. Mizuho set a $1,050.00 target price on Parker-Hannifin in a report on Friday, May 1st. JPMorgan Chase & Co. dropped their price objective on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Truist Financial set a $1,147.00 price objective on shares of Parker-Hannifin in a report on Friday, May 1st. Morgan Stanley upped 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 report on Tuesday, February 24th. Finally, Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a report on Friday, April 10th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,020.80.

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.