State Street Corp Sells 82,668 Shares of Parker-Hannifin Corporation $PH

State Street Corp trimmed its position in Parker-Hannifin Corporation (NYSE:PH) by 0.9% in the fourth quarter, Holdings Channel reports. The fund owned 9,441,059 shares of the industrial products company’s stock after selling 82,668 shares during the quarter. State Street Corp owned 0.07% of Parker-Hannifin worth $8,298,313,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Fideuram Asset Management Ireland dac purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $1,253,000. Citigroup Inc. boosted its holdings in shares of Parker-Hannifin by 54.7% during the third quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock worth $120,294,000 after purchasing an additional 56,103 shares during the period. Truist Financial Corp boosted its holdings in shares of Parker-Hannifin by 2.7% during the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after purchasing an additional 4,673 shares during the period. Advisors Capital Management LLC boosted its holdings in shares of Parker-Hannifin by 140.0% during the third quarter. Advisors Capital Management LLC now owns 2,232 shares of the industrial products company’s stock worth $1,693,000 after purchasing an additional 1,302 shares during the period. Finally, Y.D. More Investments Ltd purchased a new position in Parker-Hannifin during the 4th quarter valued at $3,800,000. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on PH. Sanford C. Bernstein began coverage on shares of Parker-Hannifin in a research report on Tuesday. They set an “outperform” rating and a $1,026.00 price objective on the stock. Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. BMO Capital Markets assumed coverage on shares of Parker-Hannifin in a research note on Friday, March 27th. They issued an “outperform” rating and a $1,090.00 price target for the company. Morgan Stanley increased their price target on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 24th. Finally, Mizuho set a $1,050.00 price target on shares of Parker-Hannifin in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.05.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $901.89 on Friday. Parker-Hannifin Corporation has a fifty-two week low of $646.51 and a fifty-two week high of $1,034.96. The company has a 50 day simple moving average of $907.43 and a two-hundred day simple moving average of $918.32. The company has a market capitalization of $113.72 billion, a price-to-earnings ratio of 33.27, a P/E/G ratio of 2.62 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, beating analysts’ consensus estimates of $7.84 by $0.33. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Analysts expect that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.9%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend was Friday, May 8th. Parker-Hannifin’s payout ratio is 29.51%.

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.