California Public Employees Retirement System Increases Position in Parker-Hannifin Corporation $PH

Key Points

• CalPERS increased its stake in Parker-Hannifin by 0.9% in the first quarter, bringing its holdings to 242,995 shares valued at about $217.5 million.
• Parker-Hannifin reported strong quarterly results, with EPS of $8.17 beating estimates and revenue of $5.49 billion topping expectations, while revenue rose 10.6% year over year.
• The company raised its dividend to $2.00 per share from $1.80, and analysts remain broadly positive with 18 Buy ratings and a consensus "Moderate Buy" rating.

California Public Employees Retirement System grew its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 0.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 242,995 shares of the industrial products company's stock after buying an additional 2,237 shares during the quarter. California Public Employees Retirement System owned 0.19% of Parker-Hannifin worth $217,539,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PH. Norges Bank purchased a new stake in Parker-Hannifin in the fourth quarter worth $1,756,230,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $185,532,000. Focus Partners Wealth boosted its stake in shares of Parker-Hannifin by 1,535.3% during the fourth quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company's stock valued at $194,106,000 after purchasing an additional 207,495 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Parker-Hannifin by 119.3% during the first quarter. Assenagon Asset Management S.A. now owns 340,727 shares of the industrial products company's stock valued at $305,032,000 after purchasing an additional 185,367 shares during the period. Finally, PFA Pension Forsikringsaktieselskab bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $104,040,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Down 0.5%

NYSE:PH opened at $953.13 on Friday. Parker-Hannifin Corporation has a 1-year low of $692.02 and a 1-year high of $1,034.96. The company has a 50-day moving average of $912.84 and a 200 day moving average of $933.05. The firm has a market cap of $120.18 billion, a PE ratio of 35.16, a price-to-earnings-growth ratio of 2.56 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, beating 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 the consensus estimate of $5.40 billion. During the same quarter last year, the firm posted $6.94 EPS. The company's revenue for the quarter was up 10.6% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, research analysts anticipate that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm 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 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 yield of 0.8%. Parker-Hannifin's dividend payout ratio is 29.51%.

Analyst Ratings Changes

PH has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. Wells Fargo & Company dropped their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 26th. Truist Financial raised 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 report on Thursday, July 2nd. BMO Capital Markets started coverage on shares of Parker-Hannifin in a research note on Friday, March 27th. They set an "outperform" rating and a $1,090.00 price target for the company. Finally, Citigroup reiterated a "buy" rating on shares of Parker-Hannifin in a report on Monday, June 8th. Eighteen equities research analysts have rated the stock with 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 $1,027.38.

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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