Canada Post Corp Registered Pension Plan Buys 1,218 Shares of Parker-Hannifin Corporation $PH

Canada Post Corp Registered Pension Plan increased its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 44.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,938 shares of the industrial products company’s stock after acquiring an additional 1,218 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in Parker-Hannifin were worth $3,461,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Stephens Inc. AR grew its stake in shares of Parker-Hannifin by 3.4% during the fourth quarter. Stephens Inc. AR now owns 3,391 shares of the industrial products company’s stock valued at $2,980,000 after purchasing an additional 110 shares during the last quarter. Novare Capital Management LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $305,000. AlphaCore Capital LLC grew its stake in shares of Parker-Hannifin by 2.8% during the fourth quarter. AlphaCore Capital LLC now owns 3,955 shares of the industrial products company’s stock valued at $3,477,000 after purchasing an additional 107 shares during the last quarter. DNB Asset Management AS grew its stake in shares of Parker-Hannifin by 1.2% during the fourth quarter. DNB Asset Management AS now owns 48,866 shares of the industrial products company’s stock valued at $42,951,000 after purchasing an additional 601 shares during the last quarter. Finally, Applied Finance Capital Management LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $1,204,000. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PH has been the topic of several research analyst reports. iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a research note on Thursday, January 29th. Jefferies Financial Group raised their price objective on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, January 30th. KeyCorp reaffirmed an “overweight” rating and issued a $1,100.00 price objective on shares of Parker-Hannifin in a research note on Friday, January 30th. Truist Financial set a $1,147.00 price objective on shares of Parker-Hannifin in a research note on Friday, May 1st. Finally, Citigroup raised their price objective on shares of Parker-Hannifin from $1,137.00 to $1,141.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,022.30.

Parker-Hannifin Price Performance

Shares of PH stock opened at $861.31 on Monday. Parker-Hannifin Corporation has a 52-week low of $637.21 and a 52-week high of $1,034.96. The stock has a market cap of $108.71 billion, a PE ratio of 31.77, a PEG ratio of 2.51 and a beta of 1.18. 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 firm’s 50 day moving average price is $925.06 and its two-hundred day moving average price is $911.42.

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 analysts’ consensus estimates of $7.84 by $0.33. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, analysts forecast that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be given a dividend of $2.00 per share. 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 dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, May 8th. Parker-Hannifin’s payout ratio is 29.51%.

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.