Parker-Hannifin Corporation $PH Stock: Maryland State Retirement & Pension System Boosts Position

Maryland State Retirement & Pension System increased its stake in Parker-Hannifin Corporation (NYSE:PH) by 14.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,727 shares of the industrial products company’s stock after buying an additional 956 shares during the period. Maryland State Retirement & Pension System’s holdings in Parker-Hannifin were worth $7,383,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PH. BlackRock Inc. bought a new stake in Parker-Hannifin in the second quarter worth $10,163,362,000. State Street Corp increased its holdings in shares of Parker-Hannifin by 0.5% during the second quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock valued at $9,180,037,000 after acquiring an additional 42,548 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Parker-Hannifin during the second quarter valued at $3,273,507,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Parker-Hannifin by 2.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company’s stock valued at $1,010,341,000 after acquiring an additional 25,167 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Parker-Hannifin in the 2nd quarter worth about $987,587,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH opened at $957.16 on Friday. The company has a market cap of $120.70 billion, a price-to-earnings ratio of 32.87, a P/E/G ratio of 2.30 and a beta of 1.15. The business’s fifty day simple moving average is $945.81 and its two-hundred day simple moving average is $949.76. Parker-Hannifin Corporation has a 12 month low of $806.22 and a 12 month high of $1,099.94. The company has a current ratio of 0.94, a quick ratio of 0.55 and a debt-to-equity ratio of 0.79.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, November 5th. The industrial products company reported $8.90 earnings per share for the quarter, topping the consensus estimate 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 28.80% and a net margin of 16.62%. The company’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.22 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. Research analysts anticipate that Parker-Hannifin Corporation will post 37.08 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, November 13th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.47%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PH. Zacks Research upgraded shares of Parker-Hannifin from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. BMO Capital Markets reissued an “outperform” rating and set a $1,214.00 price objective (up from $1,068.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Wall Street Zen lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, October 15th. Finally, Susquehanna lifted their target price on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,146.35.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the transaction, the vice president owned 4,399 shares of the company’s stock, valued at approximately $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 hyperlink. Insiders own 0.35% of the company’s stock.

Parker-Hannifin Profile

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.