Illinois Municipal Retirement Fund Purchases 896 Shares of Parker-Hannifin Corporation $PH

Illinois Municipal Retirement Fund boosted its holdings in Parker-Hannifin Corporation (NYSE:PH) by 52.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,619 shares of the industrial products company’s stock after acquiring an additional 896 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Parker-Hannifin were worth $2,345,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. increased its holdings in Parker-Hannifin by 76.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,150 shares of the industrial products company’s stock worth $1,030,000 after buying an additional 499 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Parker-Hannifin during the 1st quarter valued at about $90,000. NFSG Corp grew its stake in shares of Parker-Hannifin by 94.4% in the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 17 shares during the period. 1ST Source Bank raised its holdings in shares of Parker-Hannifin by 22.9% during the first quarter. 1ST Source Bank now owns 692 shares of the industrial products company’s stock valued at $620,000 after purchasing an additional 129 shares during the last quarter. Finally, Checchi Capital Advisers LLC lifted its position in Parker-Hannifin by 3.3% during the first quarter. Checchi Capital Advisers LLC now owns 1,349 shares of the industrial products company’s stock valued at $1,207,000 after purchasing an additional 43 shares during the period. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PH. JPMorgan Chase & Co. decreased their target price on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Stifel Nicolaus increased their target price on Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a report on Friday, April 10th. BMO Capital Markets assumed coverage on Parker-Hannifin in a research note on Friday, March 27th. They set an “outperform” rating and a $1,090.00 price target for the company. Truist Financial upped their price target on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a report on Friday, May 1st. Eighteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,027.38.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $950.03 on Tuesday. The firm has a market cap of $119.79 billion, a PE ratio of 35.04, a PEG ratio of 2.54 and a beta of 1.11. The stock has a 50 day moving average of $914.33 and a 200 day moving average of $933.78. 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 12 month low of $692.02 and a 12 month high of $1,034.96.

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

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were given a $2.00 dividend. 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 0.8%. The ex-dividend date was Friday, May 8th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 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.