State of Michigan Retirement System Sells 200 Shares of Parker-Hannifin Corporation $PH

State of Michigan Retirement System lessened its holdings in Parker-Hannifin Corporation (NYSE:PH) by 0.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 34,696 shares of the industrial products company’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in Parker-Hannifin were worth $24,234,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Parker-Hannifin by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company’s stock valued at $6,700,795,000 after acquiring an additional 168,990 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Parker-Hannifin by 52.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company’s stock worth $1,485,042,000 after buying an additional 842,262 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Parker-Hannifin by 11.6% during the 1st quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company’s stock worth $1,221,323,000 after buying an additional 208,573 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Parker-Hannifin by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,594,347 shares of the industrial products company’s stock worth $969,124,000 after buying an additional 11,815 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Parker-Hannifin during the 1st quarter worth $933,089,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH stock opened at $772.88 on Monday. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $792.53. The stock’s 50-day moving average is $754.74 and its 200 day moving average is $706.13. The company has a market cap of $97.80 billion, a P/E ratio of 28.50, a PEG ratio of 3.21 and a beta of 1.35. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating analysts’ consensus estimates of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter last year, the company earned $6.77 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 7th will be paid a $1.80 dividend. The ex-dividend date is Friday, November 7th. This represents a $7.20 dividend on an annualized basis and a yield of 0.9%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.55%.

Insider Buying and Selling

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,361 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $732.66, for a total value of $3,195,130.26. Following the completion of the sale, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $9,612,499.20. This trade represents a 24.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert W. Malone sold 2,257 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $730.66, for a total value of $1,649,099.62. Following the completion of the sale, the vice president owned 5,866 shares of the company’s stock, valued at approximately $4,286,051.56. This trade represents a 27.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 14,039 shares of company stock valued at $10,356,566 in the last 90 days. 0.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Raymond James Financial increased their price target on Parker-Hannifin from $735.00 to $845.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Stifel Nicolaus dropped their price target on Parker-Hannifin from $726.00 to $723.00 and set a “hold” rating on the stock in a research report on Monday, October 20th. Barclays increased their price target on Parker-Hannifin from $776.00 to $785.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Parker-Hannifin in a research report on Tuesday, August 19th. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $794.35.

Parker-Hannifin Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.