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% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,441,059 shares of the industrial products company’s stock after selling 82,668 shares during the period. State Street Corp owned approximately 7.48% of Parker-Hannifin worth $8,298,313,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PH. JFS Wealth Advisors LLC raised its stake in shares of Parker-Hannifin by 6.8% during the 4th quarter. JFS Wealth Advisors LLC now owns 173 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 11 shares in the last quarter. Avion Wealth raised its stake in shares of Parker-Hannifin by 35.5% during the 4th quarter. Avion Wealth now owns 42 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 11 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Parker-Hannifin by 1.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock worth $540,000 after purchasing an additional 11 shares in the last quarter. 180 Wealth Advisors LLC raised its stake in shares of Parker-Hannifin by 1.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 652 shares of the industrial products company’s stock worth $573,000 after purchasing an additional 12 shares in the last quarter. Finally, Altfest L J & Co. Inc. raised its stake in shares of Parker-Hannifin by 4.4% during the 4th quarter. Altfest L J & Co. Inc. now owns 286 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 12 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $901.89 on Friday. Parker-Hannifin Corporation has a 12 month low of $646.51 and a 12 month high of $1,034.96. The stock’s 50 day moving average is $907.43 and its 200-day moving average is $918.32. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $113.72 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 2.62 and a beta of 1.14.

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

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were paid a dividend of $2.00 per share. The ex-dividend date was Friday, May 8th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. This represents a $8.00 annualized dividend and a yield of 0.9%. Parker-Hannifin’s dividend payout ratio is currently 29.51%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Stifel Nicolaus boosted their price target on Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a research report on Friday, April 10th. Wells Fargo & Company lowered their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Evercore set a $1,064.00 price target on Parker-Hannifin in a research report on Monday, May 11th. JPMorgan Chase & Co. lowered their price target on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Finally, Mizuho set a $1,050.00 price target on Parker-Hannifin in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $1,021.05.

About Parker-Hannifin

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.