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

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

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after buying an additional 101 shares during the last quarter. Bison Wealth LLC grew its holdings in shares of Parker-Hannifin by 4.5% in the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after acquiring an additional 32 shares in the last quarter. Empowered Funds LLC increased its position in shares of Parker-Hannifin by 0.5% during the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock valued at $1,759,000 after acquiring an additional 15 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Parker-Hannifin by 26.2% during the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock valued at $484,000 after acquiring an additional 166 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its holdings in Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after acquiring an additional 15 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the subject of a number of recent analyst reports. BMO Capital Markets began coverage on Parker-Hannifin in a research note on Friday, March 27th. They issued an “outperform” rating and a $1,090.00 price objective for the company. Stifel Nicolaus lifted their target price on Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a research note on Friday, April 10th. Truist Financial set a $1,147.00 price target on shares of Parker-Hannifin in a report on Friday, May 1st. Citigroup restated a “buy” rating on shares of Parker-Hannifin in a research report on Monday, June 8th. Finally, Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $1,021.05.

Parker-Hannifin Price Performance

PH opened at $967.92 on Friday. The firm has a 50-day moving average price of $908.10 and a 200-day moving average price of $924.81. Parker-Hannifin Corporation has a twelve month low of $691.47 and a twelve month high of $1,034.96. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $122.05 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 2.82 and a beta of 1.14.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results 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 net margin of 16.58% and a return on equity of 27.97%. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the company posted $6.94 EPS. Parker-Hannifin’s revenue 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. Equities analysts expect 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. Stockholders of record on Friday, May 8th were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, May 8th. 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 dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio is 29.51%.

About Parker-Hannifin

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.