SouthState Bank Corp Increases Stock Position in Parker-Hannifin Corporation $PH

SouthState Bank Corp raised its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 1.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 35,834 shares of the industrial products company’s stock after purchasing an additional 685 shares during the quarter. Parker-Hannifin accounts for about 1.4% of SouthState Bank Corp’s holdings, making the stock its 14th biggest holding. SouthState Bank Corp’s holdings in Parker-Hannifin were worth $31,497,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PH. HFM Investment Advisors LLC raised its holdings in Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 30 shares in the last quarter. Texas Capital Bancshares Inc TX bought a new position in Parker-Hannifin in the 3rd quarter worth $25,000. Lloyd Advisory Services LLC. bought a new position in Parker-Hannifin in the 4th quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in Parker-Hannifin by 80.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 16 shares in the last quarter. Finally, First Command Advisory Services Inc. raised its holdings in Parker-Hannifin by 1,133.3% in the 4th quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the subject of several research reports. Truist Financial set a $1,147.00 price objective on shares of Parker-Hannifin in a report on Friday, May 1st. Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a report on Monday, May 11th. Morgan Stanley upped their price objective on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 24th. Wells Fargo & Company decreased their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Finally, BMO Capital Markets initiated coverage on shares of Parker-Hannifin in a report on Friday, March 27th. They issued an “outperform” rating and a $1,090.00 price objective for the company. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,020.80.

Parker-Hannifin Stock Up 1.3%

Shares of Parker-Hannifin stock 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 company has a 50-day moving average of $907.35 and a 200 day moving average of $915.87. The firm has a market cap of $111.36 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 2.57 and a beta of 1.14. Parker-Hannifin Corporation has a 1 year low of $646.51 and a 1 year high of $1,034.96.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (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 analyst estimates of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. Parker-Hannifin’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, sell-side analysts anticipate that Parker-Hannifin Corporation will post 31.26 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

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