Parker-Hannifin Corporation $PH Shares Acquired by California State Teachers Retirement System

Key Points

• CalSTRS reported a sharp increase in its Parker-Hannifin position during the second quarter, purchasing an additional 183.96 million shares; institutional investors and hedge funds collectively own 82.44% of the stock.
• Parker-Hannifin reported quarterly earnings of $9.27 per share on $5.75 billion in revenue, beating analyst estimates, while revenue increased 9.8% year over year.
• Analysts maintain a favorable outlook, with 17 Buy ratings and a consensus price target of $1,114.55. The company also announced a $2.00 quarterly dividend, equivalent to an annualized yield of approximately 0.8%.

California State Teachers Retirement System increased its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 96,423.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,153,587 shares of the industrial products company's stock after purchasing an additional 183,962,800 shares during the quarter. California State Teachers Retirement System owned 146.05% of Parker-Hannifin worth $180,124,307,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Parker-Hannifin in the 2nd quarter worth $10,163,362,000. Bank of America Corp DE lifted its stake in shares of Parker-Hannifin by 0.6% in the fourth 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 in the last quarter. Capital World Investors boosted its holdings in Parker-Hannifin by 0.6% in the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company's stock valued at $2,286,038,000 after purchasing an additional 16,703 shares during the last quarter. Morgan Stanley grew its stake in Parker-Hannifin by 1.1% during the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company's stock valued at $1,874,862,000 after purchasing an additional 22,367 shares in the last quarter. Finally, Norges Bank acquired a new stake in Parker-Hannifin during the 4th quarter valued at approximately $1,756,230,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 0.0%

NYSE:PH opened at $962.40 on Monday. The company has a market cap of $121.31 billion, a PE ratio of 33.78, a P/E/G ratio of 2.62 and a beta of 1.13. The business's 50 day moving average is $991.22 and its two-hundred day moving average is $949.13. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. 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 issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating analysts' consensus estimates of $8.31 by $0.96. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The business's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, analysts predict that Parker-Hannifin Corporation will post 34.96 EPS for the current year.

Parker-Hannifin Dividend Announcement

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

Insiders Place Their Bets

In other news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the transaction, the vice president directly owned 4,399 shares of the company's stock, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PH has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a research report on Friday, July 17th. BNP Paribas Exane reissued an "outperform" rating and set a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. UBS Group lifted their price target on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Sanford C. Bernstein increased their price objective on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. Finally, Stifel Nicolaus set a $1,075.00 price objective on shares of Parker-Hannifin in a research note on Friday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,114.55.

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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