Royal Bank of Canada Sells 82,353 Shares of Parker-Hannifin Corporation $PH

Royal Bank of Canada decreased its position in Parker-Hannifin Corporation (NYSE:PH) by 7.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,093,733 shares of the industrial products company’s stock after selling 82,353 shares during the quarter. Royal Bank of Canada’s holdings in Parker-Hannifin were worth $961,347,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PH. Norges Bank bought a new position in Parker-Hannifin in the fourth quarter valued at about $1,756,230,000. Eurizon Capital SGR S.p.A. bought a new position in Parker-Hannifin during the fourth quarter worth about $185,532,000. Focus Partners Wealth boosted its holdings in Parker-Hannifin by 1,535.3% during the fourth quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company’s stock worth $194,106,000 after buying an additional 207,495 shares during the last quarter. Capital World Investors boosted its holdings in Parker-Hannifin by 7.0% during the third quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock worth $1,959,166,000 after buying an additional 169,073 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new position in Parker-Hannifin during the fourth quarter worth about $104,040,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 2.1%

NYSE:PH opened at $937.82 on Wednesday. Parker-Hannifin Corporation has a fifty-two week low of $646.51 and a fifty-two week high of $1,034.96. 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 stock has a market capitalization of $118.25 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.67 and a beta of 1.14. The business’s 50-day simple moving average is $908.24 and its 200-day simple moving average is $919.87.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, beating the consensus estimate of $7.84 by $0.33. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the business posted $6.94 EPS. Parker-Hannifin’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. Sell-side analysts expect that Parker-Hannifin Corporation will post 31.26 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were issued a dividend of $2.00 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. The ex-dividend date was Friday, May 8th. This represents a $8.00 annualized dividend and a dividend yield of 0.9%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PH shares. Truist Financial set a $1,147.00 target price on Parker-Hannifin in a report on Friday, May 1st. Evercore set a $1,064.00 target price on Parker-Hannifin in a report on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Tuesday, April 21st. Stifel Nicolaus raised their target price on Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a report on Friday, April 10th. Finally, Mizuho set a $1,050.00 target price on Parker-Hannifin in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,021.05.

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.