Elevation Point Wealth Partners LLC Has $7.88 Million Stock Position in Parker-Hannifin Corporation $PH

Elevation Point Wealth Partners LLC increased its stake in Parker-Hannifin Corporation (NYSE:PH) by 747.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,805 shares of the industrial products company’s stock after purchasing an additional 7,766 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Parker-Hannifin were worth $7,882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PH. Vanguard Group Inc. boosted its holdings in shares of Parker-Hannifin by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock worth $9,793,843,000 after buying an additional 33,606 shares during the period. Bank of America Corp DE raised its holdings in shares of Parker-Hannifin by 0.6% during the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock valued at $3,451,584,000 after acquiring an additional 22,305 shares during the period. Capital World Investors lifted its position in shares of Parker-Hannifin by 0.6% in the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after acquiring an additional 16,703 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Parker-Hannifin by 0.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company’s stock valued at $1,674,132,000 after acquiring an additional 13,309 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Parker-Hannifin by 1.1% in the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock worth $1,874,862,000 after purchasing an additional 22,367 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $963.45 on Friday. The business’s 50-day moving average price is $907.23 and its two-hundred day moving average price is $927.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. Parker-Hannifin Corporation has a one year low of $692.02 and a one year high of $1,034.96. The company has a market capitalization of $121.48 billion, a P/E ratio of 35.54, a price-to-earnings-growth ratio of 2.58 and a beta of 1.11.

Parker-Hannifin (NYSE:PH) last posted 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 company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.40 billion. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business earned $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Analysts anticipate that Parker-Hannifin Corporation will post 31.26 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

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

Analyst Upgrades and Downgrades

PH has been the topic of several recent analyst reports. Truist Financial boosted their target price on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus raised 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. Evercore set a $1,064.00 price target on Parker-Hannifin in a report on Monday, May 11th. Sanford C. Bernstein started coverage on Parker-Hannifin in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $1,026.00 price objective for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently 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.