Parker-Hannifin Co. (NYSE:PH) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its holdings in Parker-Hannifin Co. (NYSE:PH) by 58.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,119 shares of the industrial products company’s stock after selling 43,562 shares during the period. Teacher Retirement System of Texas’ holdings in Parker-Hannifin were worth $19,793,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $25,000. Prestige Wealth Management Group LLC grew its holdings in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 0.3 %

PH stock opened at $622.79 on Friday. The company has a fifty day moving average price of $660.60 and a 200 day moving average price of $652.13. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company has a market cap of $80.17 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Sell-side analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.05%. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Barclays lowered their price target on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Truist Financial boosted their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a report on Thursday, December 12th. Finally, KeyCorp boosted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.