Cibc World Market Inc. Trims Stake in Parker-Hannifin Corporation $PH

Cibc World Market Inc. reduced its position in Parker-Hannifin Corporation (NYSE:PH) by 27.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 12,309 shares of the industrial products company’s stock after selling 4,601 shares during the period. Cibc World Market Inc.’s holdings in Parker-Hannifin were worth $10,819,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Fideuram Asset Management Ireland dac acquired a new position in Parker-Hannifin in the 4th quarter valued at about $1,253,000. ING Groep NV acquired a new position in Parker-Hannifin during the 3rd quarter worth approximately $26,398,000. Citigroup Inc. increased its position 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 period. Truist Financial Corp increased its position in Parker-Hannifin by 2.7% during the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after purchasing an additional 4,673 shares during the period. Finally, Advisors Capital Management LLC increased its position 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 period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Mizuho set a $1,050.00 target price on Parker-Hannifin in a research report on Friday, May 1st. BMO Capital Markets assumed coverage on Parker-Hannifin in a research report on Friday, March 27th. They set an “outperform” rating and a $1,090.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Stifel Nicolaus boosted their target price on Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a research report on Friday, April 10th. Finally, Truist Financial set a $1,147.00 target price on Parker-Hannifin in a research report on Friday, May 1st. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,020.80.

Parker-Hannifin Stock Performance

PH opened at $883.20 on Friday. The stock has a market cap of $111.36 billion, a P/E ratio of 32.58, a P/E/G ratio of 2.57 and a beta of 1.14. 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’s 50 day simple moving average is $907.35 and its 200 day simple moving average is $915.87. 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 released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, topping analysts’ consensus estimates of $7.84 by $0.33. The business had revenue of $5.49 billion for 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 revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, equities analysts anticipate that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were issued a $2.00 dividend. The ex-dividend date was Friday, May 8th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.80. Parker-Hannifin’s payout ratio is currently 29.51%.

Parker-Hannifin 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.