Y Intercept Hong Kong Ltd Buys Shares of 7,727 Parker-Hannifin Corporation $PH

Y Intercept Hong Kong Ltd purchased a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,727 shares of the industrial products company’s stock, valued at approximately $6,918,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in Parker-Hannifin in the fourth quarter valued at $1,756,230,000. Eurizon Capital SGR S.p.A. acquired a new stake in Parker-Hannifin in the 4th quarter valued at $185,532,000. Focus Partners Wealth lifted its position in Parker-Hannifin by 1,535.3% during the 4th 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 in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Parker-Hannifin by 119.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 340,727 shares of the industrial products company’s stock worth $305,032,000 after buying an additional 185,367 shares during the last quarter. Finally, Capital World Investors boosted its stake in shares of Parker-Hannifin by 7.0% during the 3rd 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. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 0.1%

Parker-Hannifin stock opened at $963.45 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’s 50-day moving average is $907.42 and its 200-day moving average is $927.76. The firm has a market capitalization of $121.48 billion, a PE ratio of 35.54, a P/E/G ratio of 2.57 and a beta of 1.11. Parker-Hannifin Corporation has a fifty-two week low of $692.02 and a fifty-two week high of $1,034.96.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the business posted $6.94 EPS. Parker-Hannifin’s revenue 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 anticipate that Parker-Hannifin Corporation will post 31.26 earnings per share for the current 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 given a $2.00 dividend. The ex-dividend date of this dividend was Friday, May 8th. 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 0.8%. Parker-Hannifin’s payout ratio is 29.51%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Sanford C. Bernstein initiated coverage on Parker-Hannifin in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $1,026.00 target price on the stock. Truist Financial increased their price target on Parker-Hannifin from $1,147.00 to $1,269.00 and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus raised their price target on Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a research note on Friday, April 10th. Citigroup reaffirmed a “buy” rating on shares of Parker-Hannifin in a research report on Monday, June 8th. Finally, Wells Fargo & Company dropped their price objective on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target 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.