Parker-Hannifin Co. (NYSE:PH) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its stake in Parker-Hannifin Co. (NYSE:PH) by 0.1% in the fourth quarter, HoldingsChannel reports. The fund owned 165,890 shares of the industrial products company’s stock after purchasing an additional 200 shares during the quarter. New York State Common Retirement Fund’s holdings in Parker-Hannifin were worth $105,511,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Prestige Wealth Management Group LLC lifted its stake in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire acquired a new stake in Parker-Hannifin during the fourth quarter valued at approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin during the third quarter valued at approximately $39,000. Kestra Investment Management LLC acquired a new stake in Parker-Hannifin during the fourth quarter valued at approximately $40,000. Finally, Hager Investment Management Services LLC acquired a new stake in Parker-Hannifin during the fourth quarter valued at approximately $44,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on PH. TD Cowen increased their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. UBS Group cut their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Robert W. Baird increased their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Finally, Argus boosted their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $739.06.

Parker-Hannifin Stock Up 0.9 %

Parker-Hannifin stock opened at $701.48 on Thursday. The firm’s 50 day moving average price is $665.08 and its two-hundred day moving average price is $642.79. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The firm has a market cap of $90.30 billion, a PE ratio of 29.03, a P/E/G ratio of 2.87 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

Parker-Hannifin (NYSE:PH) last announced its quarterly 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 net margin of 15.87% and a return on equity of 27.34%. On average, research analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

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.