Strs Ohio Has $33.03 Million Stock Position in Parker-Hannifin Corporation $PH

Strs Ohio reduced its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 4.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,893 shares of the industrial products company’s stock after selling 1,670 shares during the period. Strs Ohio’s holdings in Parker-Hannifin were worth $33,028,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Parker-Hannifin by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock worth $9,793,843,000 after buying an additional 33,606 shares during the last quarter. Bank of America Corp DE raised its position in shares of Parker-Hannifin by 0.6% during the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock worth $3,451,584,000 after purchasing an additional 22,305 shares during the period. Capital World Investors lifted its stake in shares of Parker-Hannifin by 0.6% in the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after buying an additional 16,703 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Parker-Hannifin by 0.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company’s stock valued at $1,674,132,000 after acquiring an additional 13,309 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Parker-Hannifin by 1.1% in the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after purchasing an additional 22,367 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein started coverage on shares of Parker-Hannifin in a report on Tuesday, June 9th. They set an “outperform” rating and a $1,026.00 price target on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Tuesday, April 21st. Mizuho set a $1,050.00 price target on shares of Parker-Hannifin in a research note on Friday, May 1st. JPMorgan Chase & Co. lowered their price target on shares of 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. Finally, BMO Capital Markets initiated coverage on Parker-Hannifin in a research note on Friday, March 27th. They issued an “outperform” rating and a $1,090.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,026.86.

Parker-Hannifin Price Performance

PH opened at $963.45 on Friday. The firm has a 50-day moving average price of $907.42 and a 200-day moving average price of $927.76. Parker-Hannifin Corporation has a twelve month low of $692.02 and a twelve month high of $1,034.96. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $121.48 billion, a price-to-earnings ratio of 35.54, a PEG ratio of 2.57 and a beta of 1.11.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, beating analysts’ consensus estimates of $7.84 by $0.33. The company had revenue of $5.49 billion for 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%. Parker-Hannifin’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Equities analysts expect that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were given a dividend of $2.00 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, May 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.51%.

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.