Shares of Parker Hannifin were higher after the manufacturing company's fiscal 2027 outlook beat analyst estimates, as fourth-quarter revenue and profit increased.

The stock was up 9.3% at $1,089.98 in recent trading, and was 24% higher since the start of the year.

The company posted net income of $1.09 billion, or $8.54 a share, compared with $923 million, or $7.15 a share, a year earlier.

Sales rose 9.8% to $5.76 billion. Analysts polled by FactSet had expected $5.57 billion.

Chief Executive Jenny Parmentier said the company enhanced its interconnected technologies through strategic acquisitions and operational excellence.

For fiscal 2027, the company projected sales growth between 5.5% and 8.5% and adjusted earnings per share between $34.25 and $35.25. Analysts polled by FactSet are expecting adjusted earnings per share of $34.05