Wolverine Asset Management LLC Takes $615,000 Position in Parker-Hannifin Corporation $PH

Wolverine Asset Management LLC acquired a new stake in Parker-Hannifin Corporation (NYSE:PH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 700 shares of the industrial products company’s stock, valued at approximately $615,000.

Other hedge funds also recently made changes to their positions in the company. ING Groep NV acquired a new stake in Parker-Hannifin during the 3rd quarter worth approximately $26,398,000. Procyon Advisors LLC lifted its holdings in Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after purchasing an additional 5,066,179 shares during the last quarter. Citigroup Inc. lifted its holdings in Parker-Hannifin by 54.7% during the 3rd quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock worth $120,294,000 after purchasing an additional 56,103 shares during the last quarter. Wilkinson Global Asset Management LLC lifted its holdings in Parker-Hannifin by 28.2% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock worth $36,720,000 after purchasing an additional 10,653 shares during the last quarter. Finally, Advisors Capital Management LLC lifted its holdings in Parker-Hannifin by 140.0% during the 3rd quarter. Advisors Capital Management LLC now owns 2,232 shares of the industrial products company’s stock worth $1,693,000 after purchasing an additional 1,302 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $902.28 on Thursday. The stock has a market capitalization of $113.89 billion, a PE ratio of 33.28, a P/E/G ratio of 2.80 and a beta of 1.18. 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 business has a fifty day moving average price of $943.01 and a two-hundred day moving average price of $905.37. Parker-Hannifin Corporation has a fifty-two week low of $616.56 and a fifty-two week high of $1,034.96.

Parker-Hannifin (NYSE:PH) last announced 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. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, equities analysts predict that Parker-Hannifin Corporation will post 31.1 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be issued a dividend of $2.00 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend is Friday, May 8th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.9%. Parker-Hannifin’s payout ratio is presently 26.56%.

Insiders Place Their Bets

In other news, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the transaction, the chief financial officer owned 20,610 shares of the company’s stock, valued at approximately $20,658,227.40. The trade was a 9.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 4,664 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total value of $4,659,336.00. Following the transaction, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at $13,106,880. This trade represents a 26.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PH shares. Citigroup lifted their price target on Parker-Hannifin from $1,137.00 to $1,141.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a report on Tuesday, April 21st. Morgan Stanley lifted their price objective on Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a report on Tuesday, February 24th. Robert W. Baird set a $1,050.00 price objective on Parker-Hannifin in a report on Friday, January 30th. Finally, Barclays lifted their price objective on Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $1,012.45.

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.