State of Tennessee Department of Treasury Has $30.78 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

State of Tennessee Department of Treasury lessened its position in shares of Parker-Hannifin Co. (NYSE:PH) by 22.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 48,397 shares of the industrial products company’s stock after selling 13,881 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Parker-Hannifin were worth $30,782,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC lifted its holdings in Parker-Hannifin by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock valued at $886,000 after buying an additional 15 shares during the period. FFT Wealth Management LLC lifted its stake in shares of Parker-Hannifin by 1.3% in the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock valued at $732,000 after purchasing an additional 15 shares during the period. GenTrust LLC boosted its position in shares of Parker-Hannifin by 2.9% during the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock valued at $333,000 after purchasing an additional 15 shares in the last quarter. Grove Bank & Trust grew its stake in Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16 shares during the period. Finally, Moody Lynn & Lieberson LLC lifted its stake in Parker-Hannifin by 0.6% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock valued at $1,723,000 after buying an additional 16 shares during the period. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citigroup reduced their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Barclays decreased their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Evercore ISI increased their price objective 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 lowered Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Finally, UBS Group cut their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $705.35.

Parker-Hannifin Price Performance

PH opened at $547.17 on Tuesday. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44. The company has a market capitalization of $70.43 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 2.85 and a beta of 1.39. The firm’s fifty day moving average price is $616.54 and its two-hundred day moving average price is $648.13. 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 posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 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%. As a group, analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.19%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 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.