State of Wisconsin Investment Board Has $58.86 Million Stock Position in Parker-Hannifin Corporation $PH

State of Wisconsin Investment Board lowered its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,970 shares of the industrial products company’s stock after selling 1,713 shares during the quarter. State of Wisconsin Investment Board’s holdings in Parker-Hannifin were worth $58,864,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PH. Vanguard Group Inc. increased its position in Parker-Hannifin by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock valued at $9,793,843,000 after acquiring an additional 33,606 shares in the last quarter. Bank of America Corp DE increased its position in Parker-Hannifin by 0.6% in the 3rd quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company’s stock valued at $2,960,266,000 after acquiring an additional 22,706 shares in the last quarter. Capital World Investors increased its position in Parker-Hannifin by 0.6% in the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after acquiring an additional 16,703 shares in the last quarter. Ameriprise Financial Inc. increased 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 increased its position in Parker-Hannifin by 1.1% in the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after acquiring an additional 22,367 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the subject of several research reports. BMO Capital Markets initiated coverage on shares of Parker-Hannifin in a research report on Friday, March 27th. They issued an “outperform” rating and a $1,090.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. JPMorgan Chase & Co. lowered their price objective on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Finally, Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a research report on Monday, May 11th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.05.

Parker-Hannifin Stock Up 2.1%

Shares of NYSE PH opened at $937.82 on Wednesday. The firm has a market capitalization of $118.25 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.67 and a beta of 1.14. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. Parker-Hannifin Corporation has a 1 year low of $646.51 and a 1 year high of $1,034.96. The firm’s 50-day moving average is $908.24 and its 200-day moving average is $919.87.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.84 by $0.33. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The company’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 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 firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were paid a $2.00 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend was Friday, May 8th. This represents a $8.00 annualized dividend and a dividend yield of 0.9%. Parker-Hannifin’s payout ratio is 29.51%.

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.