Allspring Global Investments Holdings LLC Has $25.84 Million Stake in Parker-Hannifin Corporation $PH

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 19.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,058 shares of the industrial products company’s stock after selling 6,970 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Parker-Hannifin were worth $25,835,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Texas Capital Bancshares Inc TX acquired a new position in Parker-Hannifin in the third quarter valued at about $25,000. HFM Investment Advisors LLC grew its position in shares of Parker-Hannifin by 1,000.0% during the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after buying an additional 30 shares during the period. Lloyd Advisory Services LLC. bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $31,000. NFSG Corp increased its stake in shares of Parker-Hannifin by 94.4% in the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 17 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its position in shares of 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 valued at $32,000 after acquiring an additional 16 shares during the period. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Tuesday, April 21st. Citigroup reiterated a “buy” rating on shares of Parker-Hannifin in a report on Monday, June 8th. Sanford C. Bernstein reissued an “outperform” rating and issued a $1,037.00 price target on shares of Parker-Hannifin in a report on Thursday. Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. dropped their price objective on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $1,027.38.

Parker-Hannifin Stock Down 0.3%

Parker-Hannifin stock opened at $950.03 on Tuesday. The company has a 50 day moving average of $914.33 and a 200-day moving average of $933.78. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. Parker-Hannifin Corporation has a twelve month low of $692.02 and a twelve month high of $1,034.96. The stock has a market capitalization of $119.79 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 2.54 and a beta of 1.11.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the business posted $6.94 earnings per share. The firm’s quarterly 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. On average, equities research analysts anticipate that Parker-Hannifin Corporation will post 31.26 EPS 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 dividend of $2.00 per share. The ex-dividend date was Friday, May 8th. This is a boost 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.