California State Teachers Retirement System Sells 2,514 Shares of Parker-Hannifin Corporation $PH

California State Teachers Retirement System cut its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,273 shares of the industrial products company's stock after selling 2,514 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Parker-Hannifin worth $184,153,587 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PH. BlackRock Inc. bought a new position in Parker-Hannifin in the 2nd quarter worth approximately $10,163,362,000. Bank of America Corp DE purchased a new position in Parker-Hannifin during the 2nd quarter valued at about $3,273,507,000. Capital World Investors raised its stake in Parker-Hannifin by 0.6% during 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 in the last quarter. Norges Bank acquired a new stake in Parker-Hannifin in the fourth quarter valued at $1,756,230,000. Finally, Nuveen LLC grew its position in Parker-Hannifin by 7.4% during the fourth quarter. Nuveen LLC now owns 1,367,683 shares of the industrial products company's stock valued at $1,202,139,000 after acquiring an additional 94,343 shares during the period. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of NYSE PH traded down $5.45 during midday trading on Tuesday, reaching $923.38. The company's stock had a trading volume of 272,660 shares, compared to its average volume of 703,141. Parker-Hannifin Corporation has a one year low of $715.37 and a one year high of $1,099.94. The company has a 50 day moving average price of $988.79 and a 200 day moving average price of $946.40. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The company has a market cap of $116.39 billion, a price-to-earnings ratio of 32.41, a price-to-earnings-growth ratio of 2.96 and a beta of 1.13.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping analysts' consensus estimates of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the previous year, the firm earned $7.69 earnings per share. The business's revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities research analysts expect that Parker-Hannifin Corporation will post 34.95 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were paid a $2.00 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.9%. Parker-Hannifin's payout ratio is currently 28.08%.

Insider Transactions at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction that occurred on 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 sale, the vice president directly owned 4,399 shares in the company, valued at $4,577,027.53. The trade was a 12.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.32% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PH. Susquehanna boosted their target price on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a "positive" rating in a research report on Friday, August 7th. Sanford C. Bernstein upped their price target 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. UBS Group increased their target price on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. BMO Capital Markets restated an "outperform" rating and issued a $1,214.00 price objective on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, Stifel Nicolaus set a $1,075.00 target price on Parker-Hannifin in a report on Friday, August 7th. Seventeen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,114.55.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation NYSE: PH is a diversified manufacturer of motion and control technologies. The company develops and produces systems and components that manage the movement and flow of liquids, gases and other materials for industrial, mobile and aerospace applications.

Its products include hydraulic and pneumatic systems, fluid connectors, filtration and process-control equipment, electromechanical technologies, seals, thermal-management solutions and aerospace systems. Parker-Hannifin serves manufacturers and operators in markets such as factory automation, transportation, energy, construction, life sciences and aviation.

Founded in 1917, Parker-Hannifin is headquartered in Cleveland, Ohio, and serves customers through manufacturing, distribution and sales operations across North America, Europe, Asia and other international markets.

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