Public Employees Retirement System of Ohio Acquires Shares of 51,040 Parker-Hannifin Corporation $PH

Public Employees Retirement System of Ohio bought a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the second quarter, HoldingsChannel reports. The firm bought 51,040 shares of the industrial products company’s stock, valued at approximately $49,923,000.

Several other hedge funds have also modified their holdings of the business. HFM Investment Advisors LLC increased its holdings in shares of Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 30 shares in the last quarter. Texas Capital Bancshares Inc TX purchased a new stake in Parker-Hannifin during the third quarter worth about $25,000. Lloyd Advisory Services LLC. purchased a new position in Parker-Hannifin in the fourth quarter valued at about $31,000. NFSG Corp lifted its position in shares of Parker-Hannifin by 94.4% during the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 17 shares during the period. Finally, Bell Investment Advisors Inc acquired a new stake in shares of Parker-Hannifin during the 2nd quarter valued at approximately $35,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PH shares. UBS Group upped their price target on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, August 7th. JPMorgan Chase & Co. decreased their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Sanford C. Bernstein upped their target price on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Mizuho set a $1,050.00 price target on Parker-Hannifin in a research note on Friday, May 1st. Finally, Wells Fargo & Company decreased their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin Trading Down 2.8%

Shares of Parker-Hannifin stock opened at $1,010.69 on Friday. Parker-Hannifin Corporation has a 1 year low of $715.37 and a 1 year high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The business has a 50 day moving average price of $990.89 and a 200 day moving average price of $950.16. The company has a market capitalization of $127.40 billion, a P/E ratio of 35.48, a P/E/G ratio of 2.71 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating analysts’ consensus estimates of $8.31 by $0.96. The firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.Parker-Hannifin’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin’s dividend payout ratio (DPR) is currently 28.08%.

Parker-Hannifin Company 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.