51,040 Shares in Parker-Hannifin Corporation $PH Acquired by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio acquired 51,040 Parker-Hannifin shares during the second quarter, valued at approximately $49.9 million. Institutional investors and hedge funds collectively own 82.44% of the company.
• Analysts remain broadly positive, with 17 Buy ratings and four Holds; Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $1,100.
• Parker-Hannifin exceeded quarterly expectations, reporting $9.27 in EPS and $5.75 billion in revenue, while revenue rose 9.8% year over year. The company also declared a quarterly dividend of $2.00 per share, representing a 0.8% yield.

Public Employees Retirement System of Ohio bought a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 51,040 shares of the industrial products company's stock, valued at approximately $49,923,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PH. Texas Capital Bancshares Inc TX acquired a new position in Parker-Hannifin in the third quarter valued at approximately $25,000. HFM Investment Advisors LLC raised its holdings in Parker-Hannifin by 1,000.0% during the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company's stock worth $29,000 after purchasing an additional 30 shares in the last quarter. Lloyd Advisory Services LLC. purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $31,000. NFSG Corp boosted its holdings 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 buying an additional 17 shares in the last quarter. Finally, First Command Advisory Services Inc. lifted its position in Parker-Hannifin by 1,133.3% in the fourth quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 34 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PH. Citigroup raised their price objective on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Sanford C. Bernstein upped their target price on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. Evercore set a $1,064.00 price target on Parker-Hannifin in a research note on Monday, May 11th. Wells Fargo & Company cut their price target on Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 26th. Finally, BNP Paribas Exane reiterated an "outperform" rating and issued a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus price target of $1,100.00.

Parker-Hannifin Stock Down 2.8%

PH opened at $1,010.69 on Friday. The business has a 50 day moving average price of $990.89 and a two-hundred day moving average price of $950.16. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The company has a market cap of $127.40 billion, a PE ratio of 35.48, a P/E/G ratio of 2.71 and a beta of 1.12. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, topping analysts' consensus estimates of $8.31 by $0.96. The company had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, research analysts anticipate that Parker-Hannifin Corporation will post 34.93 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Parker-Hannifin's payout ratio is currently 28.08%.

Parker-Hannifin Company Profile

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.

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