Parker-Hannifin Corporation $PH Position Lessened by Employees Retirement System of Texas

Employees Retirement System of Texas lowered its position in Parker-Hannifin Corporation (NYSE:PH) by 11.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,536 shares of the industrial products company’s stock after selling 18,133 shares during the quarter. Parker-Hannifin makes up approximately 0.8% of Employees Retirement System of Texas’ holdings, making the stock its 24th biggest position. Employees Retirement System of Texas owned about 0.11% of Parker-Hannifin worth $102,757,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Procyon Advisors LLC increased its holdings in Parker-Hannifin by 158,565.9% in the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after buying an additional 5,066,179 shares during the last quarter. Norges Bank acquired a new stake in Parker-Hannifin in the second quarter valued at approximately $1,352,509,000. Canada Pension Plan Investment Board grew its position in Parker-Hannifin by 115.7% in the second quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock worth $256,970,000 after acquiring an additional 197,317 shares in the last quarter. Capital World Investors grew its position in Parker-Hannifin by 7.0% in the third quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock worth $1,959,166,000 after acquiring an additional 169,073 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Parker-Hannifin by 9.1% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company’s stock worth $1,145,199,000 after purchasing an additional 136,359 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Barclays increased their target price on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. KeyCorp reiterated an “overweight” rating and set a $1,100.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Finally, Stifel Nicolaus increased their price objective on Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a report on Friday, January 30th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $995.37.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the sale, the vice president owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. This trade represents a 36.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dinu J. Parel sold 1,316 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total value of $1,250,265.80. Following the completion of the transaction, the vice president owned 6,534 shares of the company’s stock, valued at $6,207,626.70. The trade was a 16.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 10,063 shares of company stock valued at $9,891,214 in the last quarter. 0.32% of the stock is currently owned by insiders.

Parker-Hannifin Stock Down 4.1%

PH opened at $901.93 on Friday. The business has a 50 day moving average of $959.70 and a 200-day moving average of $857.13. The stock has a market capitalization of $113.84 billion, a price-to-earnings ratio of 32.89, a P/E/G ratio of 3.03 and a beta of 1.23. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,034.96.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the previous year, the firm posted $6.53 earnings per share. Parker-Hannifin’s revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were given a dividend of $1.80 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio is currently 26.26%.

Parker-Hannifin 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.