Turtle Creek Wealth Advisors LLC Acquires 1,075 Shares of Parker-Hannifin Corporation $PH

Turtle Creek Wealth Advisors LLC raised its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 8.8% in the first quarter, Holdings Channel reports. The institutional investor owned 13,357 shares of the industrial products company’s stock after buying an additional 1,075 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Parker-Hannifin were worth $11,958,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Private Advisor Group LLC increased its position in Parker-Hannifin by 20.8% during the first quarter. Private Advisor Group LLC now owns 7,456 shares of the industrial products company’s stock worth $6,675,000 after acquiring an additional 1,286 shares during the period. Optas LLC boosted its holdings in Parker-Hannifin by 3.1% in the 1st quarter. Optas LLC now owns 370 shares of the industrial products company’s stock valued at $331,000 after purchasing an additional 11 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Parker-Hannifin in the 1st quarter worth $6,918,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Parker-Hannifin by 61.4% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 42,380 shares of the industrial products company’s stock worth $37,940,000 after purchasing an additional 16,130 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC raised its position in shares of Parker-Hannifin by 747.4% during the first quarter. Elevation Point Wealth Partners LLC now owns 8,805 shares of the industrial products company’s stock valued at $7,882,000 after buying an additional 7,766 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Price Performance

NYSE:PH opened at $963.45 on Friday. 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 company has a 50-day moving average of $907.23 and a 200-day moving average of $927.50. Parker-Hannifin Corporation has a 52 week low of $692.02 and a 52 week high of $1,034.96. The company has a market capitalization of $121.48 billion, a price-to-earnings ratio of 35.54, a PEG ratio of 2.58 and a beta of 1.11.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, beating analysts’ consensus estimates of $7.84 by $0.33. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. 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 firm posted $6.94 earnings per share. The firm’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. As a group, equities research analysts anticipate that Parker-Hannifin Corporation will post 31.26 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PH. BMO Capital Markets started coverage on shares of Parker-Hannifin in a research note on Friday, March 27th. They issued an “outperform” rating and a $1,090.00 target price for the company. Citigroup reaffirmed a “buy” rating on shares of Parker-Hannifin in a report on Monday, June 8th. JPMorgan Chase & Co. reduced their price objective on 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. Sanford C. Bernstein assumed coverage on Parker-Hannifin in a report on Tuesday, June 9th. They set an “outperform” rating and a $1,026.00 price objective on the stock. Finally, Mizuho set a $1,050.00 price objective on Parker-Hannifin in a research report on Friday, May 1st. 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 data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $1,026.86.

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.