50,255 Shares in Parker-Hannifin Corporation $PH Purchased by Strs Ohio

Key Points

• Strs Ohio made a significant investment of $30.55 million in Parker-Hannifin Corporation, acquiring 50,255 shares during the first quarter.
• The company reported earnings of $7.69 per share for the last quarter, exceeding analysts' expectations and showing a year-over-year revenue increase of 1.1%.
• Parker-Hannifin declared a quarterly dividend of $1.80 per share, representing an annualized yield of 0.9% with a payout ratio of 26.55%.

Strs Ohio bought a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 50,255 shares of the industrial products company's stock, valued at approximately $30,548,000.

Other hedge funds have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC acquired a new stake in shares of Parker-Hannifin during the 1st quarter worth approximately $27,000. Saudi Central Bank acquired a new stake in Parker-Hannifin in the first quarter worth $31,000. Mpwm Advisory Solutions LLC bought a new stake in Parker-Hannifin in the fourth quarter valued at $32,000. Olde Wealth Management LLC acquired a new position in shares of Parker-Hannifin during the first quarter valued at about $35,000. Finally, Chilton Capital Management LLC boosted its position in shares of 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 worth $39,000 after purchasing an additional 60 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Barclays upped their price target on Parker-Hannifin from $750.00 to $776.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Raymond James Financial upped their target price on Parker-Hannifin from $735.00 to $845.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Wells Fargo & Company lifted their price target on shares of Parker-Hannifin from $770.00 to $800.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Susquehanna began coverage on shares of Parker-Hannifin in a research note on Friday, August 15th. They set a "positive" rating and a $860.00 price target for the company. Finally, Wall Street Zen lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Sunday, September 7th. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $770.94.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Angela R. Ives sold 810 shares of Parker-Hannifin stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following the transaction, the vice president owned 2,798 shares of the company's stock, valued at $2,035,153.28. This trade represents a 22.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,361 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $732.66, for a total value of $3,195,130.26. Following the completion of the transaction, the chief operating officer directly owned 13,120 shares of the company's stock, valued at approximately $9,612,499.20. This represents a 24.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,039 shares of company stock worth $10,356,566. Company insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Up 0.2%

NYSE PH traded up $1.47 on Monday, reaching $760.25. The company had a trading volume of 544,489 shares, compared to its average volume of 737,215. The stock has a market capitalization of $97.14 billion, a P/E ratio of 28.03, a P/E/G ratio of 3.14 and a beta of 1.35. The company's fifty day moving average is $736.22 and its 200 day moving average is $668.50. 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.

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

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd were given a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 2nd. Parker-Hannifin's dividend 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.