United Asset Strategies Inc. Sells 3,216 Shares of Parker-Hannifin Corporation $PH

United Asset Strategies Inc. trimmed its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 13.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,060 shares of the industrial products company’s stock after selling 3,216 shares during the quarter. Parker-Hannifin makes up approximately 1.4% of United Asset Strategies Inc.’s holdings, making the stock its 19th largest position. United Asset Strategies Inc.’s holdings in Parker-Hannifin were worth $17,958,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new position in shares of Parker-Hannifin during the fourth quarter valued at $1,756,230,000. Eurizon Capital SGR S.p.A. purchased a new position in Parker-Hannifin in the fourth quarter worth about $185,532,000. Focus Partners Wealth raised its position in Parker-Hannifin by 1,535.3% in 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 during the period. Assenagon Asset Management S.A. lifted its position in Parker-Hannifin by 119.3% during the first quarter. Assenagon Asset Management S.A. now owns 340,727 shares of the industrial products company’s stock valued at $305,032,000 after purchasing an additional 185,367 shares in the last quarter. Finally, Capital World Investors grew its holdings 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 valued at $1,959,166,000 after purchasing an additional 169,073 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded down $22.03 during trading on Tuesday, reaching $949.33. 148,315 shares of the stock traded hands, compared to its average volume of 734,475. Parker-Hannifin Corporation has a 52-week low of $692.02 and a 52-week high of $1,034.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. The business has a fifty day simple moving average of $907.42 and a two-hundred day simple moving average of $928.07. The company has a market capitalization of $119.70 billion, a price-to-earnings ratio of 35.04, a P/E/G ratio of 2.57 and a beta of 1.11.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, topping analysts’ consensus estimates of $7.84 by $0.33. The company had revenue of $5.49 billion for 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 firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Sell-side analysts expect that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were given a dividend of $2.00 per share. 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 29.51%.

Analyst Ratings Changes

Several research analysts have recently commented on PH shares. Wall Street Zen downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Tuesday, April 21st. Citigroup reissued a “buy” rating on shares of Parker-Hannifin in a report on Monday, June 8th. Wells Fargo & Company lowered their price target on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Finally, BMO Capital Markets began coverage on shares of Parker-Hannifin in a research report on Friday, March 27th. They issued an “outperform” rating and a $1,090.00 price target for the company. One research 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. According to MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $1,026.86.

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.