New York State Common Retirement Fund decreased its position in Parker-Hannifin Corp (NYSE:PH) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 259,782 shares of the industrial products company’s stock after selling 4,600 shares during the period. New York State Common Retirement Fund owned 0.20% of Parker-Hannifin worth $53,468,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PH. Hoey Investments Inc. purchased a new stake in Parker-Hannifin during the fourth quarter worth $36,000. Quest Capital Management Inc. ADV purchased a new stake in Parker-Hannifin during the third quarter worth $32,000. Atticus Wealth Management LLC purchased a new stake in Parker-Hannifin during the fourth quarter worth $57,000. CWM LLC lifted its holdings in Parker-Hannifin by 34.4% during the third quarter. CWM LLC now owns 293 shares of the industrial products company’s stock worth $53,000 after buying an additional 75 shares during the period. Finally, Bourgeon Capital Management LLC purchased a new stake in Parker-Hannifin during the third quarter worth $54,000. Hedge funds and other institutional investors own 80.23% of the company’s stock.
Shares of PH stock opened at $213.91 on Thursday. The business’s fifty day simple moving average is $204.86 and its 200-day simple moving average is $188.61. The company has a market cap of $27.24 billion, a PE ratio of 20.41, a PEG ratio of 2.16 and a beta of 1.55. The company has a current ratio of 1.38, a quick ratio of 0.89 and a debt-to-equity ratio of 1.28. Parker-Hannifin Corp has a 12-month low of $152.18 and a 12-month high of $215.40.
Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.27. The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.45 billion. Parker-Hannifin had a return on equity of 25.18% and a net margin of 9.63%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.51 earnings per share. On average, equities analysts forecast that Parker-Hannifin Corp will post 10.61 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 7th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, February 6th. Parker-Hannifin’s payout ratio is 29.70%.
In related news, VP William R. Bowman sold 1,904 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $208.83, for a total value of $397,612.32. Following the transaction, the vice president now directly owns 6,622 shares of the company’s stock, valued at approximately $1,382,872.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Andrew M. Weeks sold 3,750 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $200.38, for a total value of $751,425.00. Over the last three months, insiders sold 6,429 shares of company stock worth $1,304,440. 1.23% of the stock is owned by insiders.
A number of equities analysts have recently issued reports on PH shares. Goldman Sachs Group raised Parker-Hannifin from a “sell” rating to a “buy” rating and upped their price target for the stock from $180.00 to $230.00 in a research report on Tuesday, December 10th. Wells Fargo & Co raised Parker-Hannifin from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $205.00 to $230.00 in a research report on Monday, December 16th. Gordon Haskett raised Parker-Hannifin from an “underperform” rating to a “hold” rating in a research report on Monday, November 4th. ValuEngine raised Parker-Hannifin from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Barclays started coverage on Parker-Hannifin in a research report on Monday, November 18th. They set an “overweight” rating and a $227.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Parker-Hannifin currently has an average rating of “Hold” and a consensus price target of $211.27.
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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