Concentric Capital Strategies LP Trims Stock Holdings in Parker-Hannifin Corporation $PH

Concentric Capital Strategies LP trimmed its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 28.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 15,079 shares of the industrial products company’s stock after selling 5,859 shares during the quarter. Concentric Capital Strategies LP’s holdings in Parker-Hannifin were worth $13,254,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Texas Capital Bancshares Inc TX bought a new stake in Parker-Hannifin during the third quarter valued at $25,000. HFM Investment Advisors LLC lifted its holdings in shares of Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 30 shares during the last quarter. Lloyd Advisory Services LLC. purchased a new stake in Parker-Hannifin during the fourth quarter valued at about $31,000. Ameriflex Group Inc. grew its position in Parker-Hannifin by 366.7% during the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 33 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its stake in Parker-Hannifin by 80.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 16 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

NYSE:PH opened at $946.68 on Thursday. 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 firm’s fifty day simple moving average is $908.95 and its 200 day simple moving average is $920.46. The stock has a market cap of $119.37 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. Parker-Hannifin Corporation has a twelve month low of $646.51 and a twelve month high of $1,034.96.

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 the consensus estimate of $7.84 by $0.33. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, research analysts predict that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders 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 a boost 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%.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their price objective on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Citigroup reiterated a “buy” rating on shares of Parker-Hannifin in a report on Monday, June 8th. Truist Financial set a $1,147.00 price target on shares of Parker-Hannifin in a report on Friday, May 1st. Wells Fargo & Company dropped their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Finally, Wall Street Zen cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.05.

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.