Parker-Hannifin Co. (NYSE:PH) Holdings Decreased by Employees Retirement System of Texas

Employees Retirement System of Texas trimmed its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 18.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 143,186 shares of the industrial products company’s stock after selling 31,808 shares during the period. Employees Retirement System of Texas’ holdings in Parker-Hannifin were worth $91,071,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth approximately $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin during the 4th quarter valued at $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin during the fourth quarter valued at $30,000. Prestige Wealth Management Group LLC lifted its holdings in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after buying an additional 25 shares during the last quarter. Finally, Bank of New Hampshire bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $35,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

Shares of PH stock opened at $517.00 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The firm has a market cap of $66.55 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The stock’s fifty day simple moving average is $649.18 and its 200 day simple moving average is $654.59.

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

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.26%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. UBS Group decreased their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Stifel Nicolaus upped their price target on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Citigroup started coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective on the stock. Finally, Evercore ISI boosted their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

About Parker-Hannifin

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.