Kornitzer Capital Management Inc. KS Has $4.93 Million Stake in Parker-Hannifin Corporation $PH

Kornitzer Capital Management Inc. KS boosted its stake in Parker-Hannifin Corporation (NYSE:PH) by 29.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,507 shares of the industrial products company’s stock after acquiring an additional 1,250 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Parker-Hannifin were worth $4,930,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC grew its holdings in shares of Parker-Hannifin by 712.5% during the first quarter. Cedar Mountain Advisors LLC now owns 65 shares of the industrial products company’s stock worth $58,000 after buying an additional 57 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Parker-Hannifin by 3.9% in the 1st quarter. Hsbc Holdings PLC now owns 227,424 shares of the industrial products company’s stock valued at $202,888,000 after acquiring an additional 8,636 shares in the last quarter. Money Concepts Capital Corp bought a new stake in Parker-Hannifin in the 1st quarter valued at approximately $210,000. Resona Asset Management Co. Ltd. boosted its position in Parker-Hannifin by 2.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 39,095 shares of the industrial products company’s stock worth $34,757,000 after acquiring an additional 834 shares during the last quarter. Finally, CFS Investment Advisory Services LLC boosted its position in Parker-Hannifin by 3.2% during the 1st quarter. CFS Investment Advisory Services LLC now owns 414 shares of the industrial products company’s stock worth $409,000 after acquiring an additional 13 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH traded up $11.79 during mid-day trading on Friday, hitting $960.96. The stock had a trading volume of 440,476 shares, compared to its average volume of 586,866. Parker-Hannifin Corporation has a twelve month low of $692.02 and a twelve month high of $1,034.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. The stock has a market cap of $121.16 billion, a price-to-earnings ratio of 35.45, a PEG ratio of 2.57 and a beta of 1.11. The company’s 50 day simple moving average is $906.28 and its 200 day simple moving average is $930.67.

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

Parker-Hannifin Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a report on Tuesday, April 21st. Truist Financial increased their target price on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Wells Fargo & Company lowered their price target on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. Finally, Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,026.86.

Parker-Hannifin 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.