New York State Teachers Retirement System lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH – Free Report) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 102,647 shares of the industrial products company’s stock after selling 3,068 shares during the period. New York State Teachers Retirement System owned 0.08% of Parker-Hannifin worth $91,894,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of PH. Texas Capital Bancshares Inc TX bought a new stake in shares of Parker-Hannifin during the 3rd quarter worth $25,000. HFM Investment Advisors LLC raised its holdings in Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 30 shares during the period. Lloyd Advisory Services LLC. acquired a new position in Parker-Hannifin during the 4th quarter worth $31,000. Ameriflex Group Inc. boosted its holdings in Parker-Hannifin by 366.7% during the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 33 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Parker-Hannifin by 80.0% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.
Parker-Hannifin Stock Performance
NYSE:PH opened at $963.45 on Friday. The firm has a market capitalization of $121.48 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 2.58 and a beta of 1.11. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. Parker-Hannifin Corporation has a 12-month low of $692.02 and a 12-month high of $1,034.96. The firm has a 50-day moving average price of $907.23 and a 200 day moving average price of $927.50.
Parker-Hannifin Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $8.00 annualized dividend and a yield of 0.8%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.80. Parker-Hannifin’s payout ratio is 29.51%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on PH. Wall Street Zen downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Mizuho set a $1,050.00 price objective on Parker-Hannifin in a research report on Friday, May 1st. Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a research note on Friday, April 10th. Wells Fargo & Company dropped their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,026.86.
Get Our Latest Stock Analysis on Parker-Hannifin
About Parker-Hannifin
Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.
Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.
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