Teachers Retirement System of The State of Kentucky Sells 9,889 Shares of Parker-Hannifin Corporation $PH

Key Points

• Teachers Retirement System of The State of Kentucky cut its Parker-Hannifin stake by 11.7% in the first quarter, selling 9,889 shares and leaving it with 74,822 shares valued at about $66.99 million.
• Parker-Hannifin reported better-than-expected fiscal third-quarter results, with EPS of $8.17 versus estimates of $7.84 and revenue of $5.49 billion versus expectations of $5.40 billion, while revenue rose 10.6% year over year.
• The company also raised its quarterly dividend to $2.00 from $1.80, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $1,026.86.

Teachers Retirement System of The State of Kentucky lowered its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 11.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 74,822 shares of the industrial products company's stock after selling 9,889 shares during the quarter. Parker-Hannifin comprises about 0.5% of Teachers Retirement System of The State of Kentucky's investment portfolio, making the stock its 23rd largest position. Teachers Retirement System of The State of Kentucky owned 0.06% of Parker-Hannifin worth $66,985,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Brighton Jones LLC grew its holdings in Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock worth $1,150,000 after acquiring an additional 101 shares during the last quarter. Bison Wealth LLC raised its stake in shares of Parker-Hannifin by 4.5% in the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company's stock worth $476,000 after acquiring an additional 32 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Parker-Hannifin by 0.5% in the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company's stock worth $1,759,000 after acquiring an additional 15 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Parker-Hannifin by 26.2% during the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company's stock worth $484,000 after purchasing an additional 166 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its position in shares of Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock worth $300,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of PH stock opened at $960.96 on Monday. Parker-Hannifin Corporation has a 52-week low of $692.02 and a 52-week high of $1,034.96. The stock has a market cap of $121.17 billion, a PE ratio of 35.45, a PEG ratio of 2.57 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. The firm's 50 day moving average price is $906.28 and its two-hundred day moving average price is $930.98.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate of $7.84 by $0.33. The company had revenue of $5.49 billion during the quarter, compared to analysts' expectations of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, analysts forecast that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were issued a $2.00 dividend. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.80. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, May 8th. Parker-Hannifin's dividend payout ratio is currently 29.51%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Truist Financial raised their price target on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. reduced their price objective on Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating on the stock in a report on Thursday, May 7th. Citigroup reiterated a "buy" rating on shares of Parker-Hannifin in a research report on Monday, June 8th. Sanford C. Bernstein started coverage on Parker-Hannifin in a research note on Tuesday, June 9th. They issued an "outperform" rating and a $1,026.00 target price for the company. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,026.86.

Parker-Hannifin Profile

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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