Sterling Capital Management LLC Purchases 890 Shares of Parker-Hannifin Corporation $PH

Sterling Capital Management LLC boosted its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 14.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,013 shares of the industrial products company’s stock after acquiring an additional 890 shares during the period. Sterling Capital Management LLC’s holdings in Parker-Hannifin were worth $6,278,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fideuram Asset Management Ireland dac bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $1,253,000. Truist Financial Corp increased its position in shares of Parker-Hannifin by 2.7% in the fourth 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 last quarter. Y.D. More Investments Ltd purchased a new stake in Parker-Hannifin in the fourth quarter valued at approximately $3,800,000. BCS Wealth Management lifted its position in Parker-Hannifin by 83.3% during the fourth quarter. BCS Wealth Management now owns 3,120 shares of the industrial products company’s stock valued at $2,742,000 after purchasing an additional 1,418 shares during the last quarter. Finally, Shepherd Street Advisors LLC purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $1,736,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 2.2%

Shares of NYSE:PH opened at $967.92 on Friday. The stock has a market capitalization of $122.05 billion, a P/E ratio of 35.70, a price-to-earnings-growth ratio of 2.82 and a beta of 1.14. The stock’s 50-day moving average price is $908.10 and its 200-day moving average price is $924.81. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. Parker-Hannifin Corporation has a 12-month low of $691.47 and a 12-month high of $1,034.96.

Parker-Hannifin (NYSE:PH) last released 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. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.40 billion. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.Parker-Hannifin’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. On average, equities analysts anticipate that Parker-Hannifin Corporation will post 31.26 earnings per share for the current year.

Parker-Hannifin Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PH shares. Sanford C. Bernstein assumed coverage on shares of Parker-Hannifin in a report on Tuesday, June 9th. They issued an “outperform” rating and a $1,026.00 price target on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. Evercore set a $1,064.00 target price on Parker-Hannifin in a research note on Monday, May 11th. JPMorgan Chase & Co. lowered their price target 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. Finally, Citigroup reaffirmed a “buy” rating on shares of Parker-Hannifin in a research note on Monday, June 8th. One 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,021.05.

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.