New York State Teachers Retirement System Sells 3,068 Shares of Parker-Hannifin Corporation $PH

New York State Teachers Retirement System decreased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 102,647 shares of the industrial products company’s stock after selling 3,068 shares during the quarter. New York State Teachers Retirement System’s holdings in Parker-Hannifin were worth $91,894,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PH. Fideuram Asset Management Ireland dac bought a new position in Parker-Hannifin during the fourth quarter worth about $1,253,000. Truist Financial Corp raised its position in shares of Parker-Hannifin by 2.7% during the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after purchasing an additional 4,673 shares during the period. Y.D. More Investments Ltd bought a new position in shares of Parker-Hannifin during the 4th quarter valued at about $3,800,000. BCS Wealth Management lifted its holdings in shares of Parker-Hannifin by 83.3% during the 4th quarter. BCS Wealth Management now owns 3,120 shares of the industrial products company’s stock valued at $2,742,000 after purchasing an additional 1,418 shares in the last quarter. Finally, Shepherd Street Advisors LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at approximately $1,736,000. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PH. Citigroup restated a “buy” rating on shares of Parker-Hannifin in a report on Monday, June 8th. BMO Capital Markets assumed coverage on shares of Parker-Hannifin in a report on Friday, March 27th. They set an “outperform” rating and a $1,090.00 price objective on the stock. Stifel Nicolaus boosted their price objective on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a research report on Friday, April 10th. Truist Financial upped their target price on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Evercore set a $1,064.00 target price on Parker-Hannifin in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,026.86.

Parker-Hannifin Trading Down 0.0%

Shares of NYSE:PH opened at $963.45 on Friday. Parker-Hannifin Corporation has a 52-week low of $692.02 and a 52-week high of $1,034.96. The company has a market capitalization of $121.48 billion, a P/E ratio of 35.54, a price-to-earnings-growth ratio of 2.58 and a beta of 1.11. The company has a 50-day simple moving average of $907.23 and a 200 day simple moving average of $927.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $5.40 billion. During the same period in the prior year, the firm earned $6.94 earnings per share. The company’s 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. Sell-side analysts forecast that Parker-Hannifin Corporation will post 31.26 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were given a $2.00 dividend. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.80. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 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.