Parker-Hannifin Corporation $PH Stock: Retirement Systems of Alabama Grows Stake

Key Points

• Retirement Systems of Alabama increased its Parker-Hannifin stake by 7.6% in the third quarter, adding 6,151 shares to bring its holdings to 87,361 shares, valued at about $83.5 million.
• Parker-Hannifin beat quarterly expectations, reporting EPS of $8.90 versus $8.21 expected and revenue of $5.99 billion versus $5.81 billion; revenue rose 17.9% year over year.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $1,146.35. The company also declared a quarterly dividend of $2 per share, equivalent to an annualized yield of 0.8%.

Retirement Systems of Alabama lifted its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,361 shares of the industrial products company's stock after acquiring an additional 6,151 shares during the period. Retirement Systems of Alabama owned 0.07% of Parker-Hannifin worth $83,466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. bought a new stake in Parker-Hannifin during the second quarter worth approximately $10,163,362,000. Bank of America Corp DE acquired a new stake in Parker-Hannifin in the second quarter worth approximately $3,273,507,000. Deutsche Bank AG acquired a new stake in Parker-Hannifin in the second quarter worth approximately $987,587,000. Bank of New York Mellon Corp bought a new position in Parker-Hannifin during the 2nd quarter valued at $712,222,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Parker-Hannifin during the 2nd quarter valued at $305,628,000. 82.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total value of $626,362.94. Following the transaction, the vice president owned 4,399 shares of the company's stock, valued at approximately $4,577,027.53. This trade represents a 12.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. KeyCorp lifted their price target on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Wells Fargo & Company assumed coverage on Parker-Hannifin in a report on Thursday, September 24th. They issued an "equal weight" rating and a $1,050.00 price objective for the company. Robert W. Baird raised their target price on Parker-Hannifin from $1,050.00 to $1,275.00 in a research note on Friday, August 7th. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,214.00 target price (up from $1,068.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, Evercore lifted their target price on Parker-Hannifin from $1,064.00 to $1,217.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,146.35.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $955.99 on Tuesday. The company has a market capitalization of $120.56 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 2.53 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The stock has a fifty day moving average of $945.56 and a 200-day moving average of $949.30. Parker-Hannifin Corporation has a one year low of $806.22 and a one year high of $1,099.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, November 5th. The industrial products company reported $8.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.21 by $0.69. The business had revenue of $5.99 billion for the quarter, compared to analysts' expectations of $5.81 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The company's quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $7.22 EPS. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. As a group, equities analysts anticipate that Parker-Hannifin Corporation will post 37.06 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be given a $2.00 dividend. The ex-dividend date is Friday, November 13th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin's dividend payout ratio (DPR) is 27.47%.

Parker-Hannifin Profile

Parker-Hannifin is a global manufacturer of motion and control technologies. Its products include hydraulic and pneumatic systems, fluid connectors, filtration and sealing products, electromechanical components, and systems for aerospace and climate control applications.

The company serves customers across industries such as aerospace, manufacturing, transportation, energy, and life sciences. Its operations span markets around the world, with businesses organized around industrial and aerospace products and services.

Founded in 1917 by Arthur L.

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