Boothbay Fund Management LLC Buys New Position in Parker-Hannifin Corporation $PH

Boothbay Fund Management LLC bought a new stake in Parker-Hannifin Corporation (NYSE:PH) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,189 shares of the industrial products company’s stock, valued at approximately $10,714,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PH. Norges Bank purchased a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $1,756,230,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $185,532,000. Focus Partners Wealth raised its stake in shares of Parker-Hannifin by 1,535.3% during the fourth quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company’s stock worth $194,106,000 after acquiring an additional 207,495 shares in the last quarter. Capital World Investors raised its stake in shares of 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 acquiring an additional 169,073 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $104,040,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Truist Financial set a $1,147.00 price target on shares of Parker-Hannifin in a research note on Friday, May 1st. BMO Capital Markets assumed coverage on shares of Parker-Hannifin in a research note on Friday, March 27th. They set an “outperform” rating and a $1,090.00 price target on the stock. Sanford C. Bernstein assumed coverage on shares of Parker-Hannifin in a research note on Tuesday, June 9th. They set an “outperform” rating and a $1,026.00 price target on the stock. Citigroup reissued a “buy” rating on shares of Parker-Hannifin in a research note on Monday, June 8th. Finally, Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.05.

Parker-Hannifin Stock Up 0.9%

Shares of Parker-Hannifin stock opened at $946.68 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 market capitalization of $119.37 billion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 2.73 and a beta of 1.14. The company’s 50 day moving average price is $908.95 and its 200-day moving average price is $920.46.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.84 by $0.33. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter last year, the business earned $6.94 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Equities research analysts forecast that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Parker-Hannifin Increases Dividend

The business 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. This represents a $8.00 annualized dividend and a yield of 0.8%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.80. The ex-dividend date was Friday, May 8th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 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.