CIBC Asset Management Inc Has $26.61 Million Stock Holdings in Parker-Hannifin Corporation $PH

CIBC Asset Management Inc grew its stake in Parker-Hannifin Corporation (NYSE:PH) by 66.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,270 shares of the industrial products company’s stock after buying an additional 12,074 shares during the period. CIBC Asset Management Inc’s holdings in Parker-Hannifin were worth $26,606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PH. Norges Bank acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $1,756,230,000. Eurizon Capital SGR S.p.A. acquired a new stake in Parker-Hannifin during the fourth quarter worth approximately $185,532,000. Capital World Investors grew its stake in Parker-Hannifin by 7.0% during the third quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock worth $1,959,166,000 after purchasing an additional 169,073 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new stake in Parker-Hannifin during the fourth quarter worth approximately $104,040,000. Finally, California Public Employees Retirement System grew its stake in Parker-Hannifin by 51.3% during the third quarter. California Public Employees Retirement System now owns 336,247 shares of the industrial products company’s stock worth $254,926,000 after purchasing an additional 114,008 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 1.9%

Shares of Parker-Hannifin stock opened at $852.05 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. Parker-Hannifin Corporation has a 52 week low of $646.51 and a 52 week high of $1,034.96. The stock has a 50 day moving average price of $909.11 and a two-hundred day moving average price of $915.80. The stock has a market capitalization of $107.43 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 2.43 and a beta of 1.14.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, beating analysts’ consensus estimates of $7.84 by $0.33. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter last year, the firm posted $6.94 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. 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 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be issued a $2.00 dividend. This is a boost 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 0.9%. The ex-dividend date is Friday, May 8th. Parker-Hannifin’s dividend payout ratio is 29.51%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wells Fargo & Company decreased their target price on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research note on Tuesday, April 21st. Evercore set a $1,064.00 target price on Parker-Hannifin in a research note on Monday, May 11th. Morgan Stanley raised their target price on Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 24th. Finally, Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $1,020.80.

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.