California State Teachers Retirement System Sells 5,314 Shares of Parker-Hannifin Corporation $PH

Key Points

• California State Teachers Retirement System reduced its Parker-Hannifin stake by 2.7%, selling 5,314 shares and retaining 190,787 shares valued at approximately $170.8 million.
• Institutional investors own 82.44% of Parker-Hannifin, with major holders including Vanguard, Bank of America, Capital World Investors, Morgan Stanley and Norges Bank.
• Parker-Hannifin reported quarterly EPS of $8.17, beating estimates of $7.84, while revenue rose 10.6% year over year to $5.49 billion. Analysts maintain a Moderate Buy consensus rating with an average price target of $1,027.38.

California State Teachers Retirement System lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 190,787 shares of the industrial products company's stock after selling 5,314 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Parker-Hannifin worth $170,800,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Parker-Hannifin by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company's stock valued at $9,793,843,000 after buying an additional 33,606 shares during the last quarter. Bank of America Corp DE grew its holdings in Parker-Hannifin by 0.6% in the 4th quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company's stock worth $3,451,584,000 after acquiring an additional 22,305 shares during the last quarter. Capital World Investors grew its holdings in Parker-Hannifin by 0.6% in the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company's stock worth $2,286,038,000 after acquiring an additional 16,703 shares during the last quarter. Morgan Stanley increased its position in shares of Parker-Hannifin by 1.1% in the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company's stock valued at $1,874,862,000 after acquiring an additional 22,367 shares during the period. Finally, Norges Bank purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at about $1,756,230,000. Institutional investors own 82.44% of the company's stock.

Wall Street Analyst Weigh In

PH has been the subject of a number of analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Parker-Hannifin in a report on Friday, July 17th. Truist Financial boosted their price target on Parker-Hannifin from $1,147.00 to $1,269.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. Stifel Nicolaus upped their price target on Parker-Hannifin from $965.00 to $1,000.00 and gave the company a "hold" rating in a research report on Friday, April 10th. Citigroup reiterated a "buy" rating on shares of Parker-Hannifin in a report on Monday, June 8th. Finally, Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Eighteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,027.38.

Parker-Hannifin Trading Up 0.4%

NYSE:PH opened at $990.91 on Wednesday. The company has a 50-day moving average price of $927.63 and a 200-day moving average price of $937.19. The stock has a market cap of $124.94 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 2.64 and a beta of 1.11. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. Parker-Hannifin Corporation has a 12 month low of $692.02 and a 12 month high of $1,034.96.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) 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 analysts' expectations of $5.40 billion. During the same quarter in the previous year, the company earned $6.94 earnings per share. Parker-Hannifin'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. Equities analysts predict that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

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.

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