Rakuten Investment Management Inc. Sells 6,251 Shares of Parker-Hannifin Corporation $PH

Rakuten Investment Management Inc. trimmed its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 27.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,615 shares of the industrial products company’s stock after selling 6,251 shares during the period. Rakuten Investment Management Inc.’s holdings in Parker-Hannifin were worth $14,796,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Fideuram Asset Management Ireland dac purchased a new stake in Parker-Hannifin in the 4th quarter valued at about $1,253,000. Citigroup Inc. boosted its position in Parker-Hannifin by 54.7% in the 3rd 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 boosted its position in Parker-Hannifin by 2.7% in the 4th 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. Advisors Capital Management LLC boosted its position in 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 valued at $1,693,000 after buying an additional 1,302 shares during the period. Finally, Y.D. More Investments Ltd purchased a new stake in Parker-Hannifin in the 4th quarter valued at about $3,800,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

Shares of PH opened at $919.22 on Tuesday. The company has a 50 day moving average price of $907.65 and a 200-day moving average price of $919.33. Parker-Hannifin Corporation has a fifty-two week low of $646.51 and a fifty-two week high of $1,034.96. The stock has a market capitalization of $115.90 billion, a PE ratio of 33.91, a PEG ratio of 2.63 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share 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 firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the prior year, the company earned $6.94 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Equities analysts predict that Parker-Hannifin Corporation will post 31.26 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were given a dividend of $2.00 per share. 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. This represents a $8.00 dividend on an annualized basis and a yield of 0.9%. Parker-Hannifin’s dividend payout ratio is currently 29.51%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a research report on Friday, May 1st. Sanford C. Bernstein assumed coverage on shares of Parker-Hannifin in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $1,026.00 price objective for the company. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a research report on Friday, April 10th. Morgan Stanley upped their price target on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. lowered their price target on shares of 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. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $1,021.05.

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.