Parker-Hannifin Corporation $PH Holdings Boosted by Retirement Systems of Alabama

Retirement Systems of Alabama raised its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 7.6% during the 3rd quarter, Holdings Channel.com reports. 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’s holdings in Parker-Hannifin were worth $83,466,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Polaris Financial Partners acquired a new stake in shares of Parker-Hannifin in the third quarter worth $26,000. Latitude Advisors LLC purchased a new position in shares of Parker-Hannifin during the third quarter valued at $27,000. Archer Investment Corp purchased a new position in shares of Parker-Hannifin during the second quarter valued at $28,000. Team Financial Group LLC acquired a new position in Parker-Hannifin during the third quarter valued at $28,000. Finally, Pension & Wealth Management Advisors Inc. acquired a new position in Parker-Hannifin during the third quarter valued at $30,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the subject of a number of research reports. Jefferies Financial Group raised their price objective on Parker-Hannifin from $1,100.00 to $1,275.00 in a research report on Friday, August 7th. TD Cowen lifted their target price on Parker-Hannifin from $850.00 to $950.00 and gave the company a “hold” rating in a research note on Wednesday, October 14th. KeyCorp upped their target price on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a report on Friday, August 7th. UBS Group set a $950.00 price target on shares of Parker-Hannifin in a research report on Wednesday, October 14th. Finally, Citigroup increased their price target on shares of Parker-Hannifin from $1,232.00 to $1,234.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,146.35.

Parker-Hannifin Trading Up 4.2%

NYSE PH opened at $955.99 on Tuesday. Parker-Hannifin Corporation has a 1-year low of $806.22 and a 1-year high of $1,099.94. 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 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 firm’s fifty day simple moving average is $945.56 and its 200-day simple moving average is $949.30.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, November 5th. The industrial products company reported $8.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.21 by $0.69. The firm had revenue of $5.99 billion during 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 business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $7.22 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. As a group, sell-side analysts anticipate that Parker-Hannifin Corporation will post 37.06 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 13th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend 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%.

Insider Buying and Selling at Parker-Hannifin

In other 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 transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is owned by company insiders.

About Parker-Hannifin

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.