California Public Employees Retirement System Has $135.30 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

California Public Employees Retirement System trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 212,732 shares of the industrial products company’s stock after selling 12,263 shares during the period. California Public Employees Retirement System’s holdings in Parker-Hannifin were worth $135,304,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PH. CreativeOne Wealth LLC increased its holdings in Parker-Hannifin by 24.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 965 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 187 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Parker-Hannifin during the third quarter worth $1,898,000. FSA Wealth Management LLC bought a new stake in Parker-Hannifin during the third quarter worth $83,000. Point72 Hong Kong Ltd purchased a new stake in Parker-Hannifin in the 3rd quarter valued at $3,458,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in Parker-Hannifin by 71.7% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,153 shares of the industrial products company’s stock valued at $1,992,000 after acquiring an additional 1,317 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

PH opened at $600.78 on Monday. The firm has a 50-day moving average price of $658.39 and a 200-day moving average price of $655.07. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $77.33 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 2.85 and a beta of 1.50.

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

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.09%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PH. Barclays lowered their target price 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. Evercore ISI lifted their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research note on Thursday, December 12th. Truist Financial increased their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Jefferies Financial Group boosted their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin 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.