New York State Teachers Retirement System Acquires 2,572 Shares of Parker-Hannifin Corporation $PH

Key Points

• The New York State Teachers Retirement System increased its stake in Parker-Hannifin Corporation by 2.4% in the 2nd quarter, owning 109,807 shares valued at approximately $76.7 million after acquiring an additional 2,572 shares.
• Total institutional ownership of Parker-Hannifin stands at 82.44%, with several investors like Wealth Preservation Advisors and Saudi Central Bank establishing new positions in the company during the year.
• Parker-Hannifin reported earnings of $7.69 per share for its last quarter, surpassing analysts' estimates, and announced a quarterly dividend of $1.80 per share, yielding around 1.0% annually.

New York State Teachers Retirement System raised its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,807 shares of the industrial products company's stock after buying an additional 2,572 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Parker-Hannifin worth $76,697,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new position in Parker-Hannifin during the 1st quarter valued at approximately $27,000. Saudi Central Bank purchased a new position in Parker-Hannifin during the 1st quarter valued at approximately $31,000. Interchange Capital Partners LLC purchased a new position in Parker-Hannifin during the 2nd quarter valued at approximately $31,000. Olde Wealth Management LLC purchased a new position in Parker-Hannifin during the 1st quarter valued at approximately $35,000. Finally, Chilton Capital Management LLC grew its holdings in Parker-Hannifin by 1,500.0% during the 1st quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock valued at $39,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Insider Activity at Parker-Hannifin

In related news, VP Robert W. Malone sold 2,257 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the completion of the transaction, the vice president owned 5,866 shares in the company, valued at $4,286,051.56. The trade was a 27.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph R. Leonti sold 4,625 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $750.84, for a total value of $3,472,635.00. Following the transaction, the executive vice president owned 13,878 shares of the company's stock, valued at approximately $10,420,157.52. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,039 shares of company stock worth $10,356,566 over the last quarter. 0.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on PH. Citigroup raised their price target on Parker-Hannifin from $831.00 to $874.00 and gave the company a "buy" rating in a report on Thursday, October 9th. Wells Fargo & Company raised their price target on Parker-Hannifin from $800.00 to $840.00 and gave the company an "overweight" rating in a report on Monday, October 6th. Susquehanna assumed coverage on Parker-Hannifin in a report on Friday, August 15th. They issued a "positive" rating and a $860.00 target price for the company. Stifel Nicolaus lifted their target price on Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Parker-Hannifin in a report on Tuesday, August 19th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and a consensus target price of $787.61.

Parker-Hannifin Price Performance

PH opened at $736.06 on Thursday. The business has a fifty day moving average of $750.39 and a 200 day moving average of $687.48. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $779.77. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. The stock has a market cap of $93.14 billion, a P/E ratio of 27.14, a PEG ratio of 3.04 and a beta of 1.35.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The company had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.10 billion. During the same quarter in the previous year, the business earned $6.77 EPS. Parker-Hannifin's revenue was up 1.1% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. As a group, sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, September 2nd were issued a dividend of $1.80 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $7.20 dividend on an annualized basis and a yield of 1.0%. Parker-Hannifin's payout ratio is presently 26.55%.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

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