Employees Retirement System of Texas Sells 18,133 Shares of Parker-Hannifin Corporation $PH

Employees Retirement System of Texas lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 11.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,536 shares of the industrial products company’s stock after selling 18,133 shares during the quarter. Parker-Hannifin accounts for about 0.8% of Employees Retirement System of Texas’ investment portfolio, making the stock its 24th largest position. Employees Retirement System of Texas’ holdings in Parker-Hannifin were worth $102,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. Chilton Capital Management LLC acquired a new position in Parker-Hannifin during the third quarter worth $29,000. Ameriflex Group Inc. boosted its stake in shares of Parker-Hannifin by 366.7% in the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 33 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth about $36,000. State of Wyoming bought a new stake in shares of Parker-Hannifin in the 2nd quarter worth about $38,000. Finally, Sagard Holdings Management Inc. acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $46,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

PH stock opened at $901.93 on Friday. The company has a 50 day moving average price of $959.70 and a 200 day moving average price of $857.13. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The stock has a market capitalization of $113.84 billion, a PE ratio of 32.89, a price-to-earnings-growth ratio of 3.03 and a beta of 1.23.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. The firm had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $6.53 EPS. Analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were given a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.26%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the completion of the sale, the vice president directly owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. The trade was a 36.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Matthew A. Jacobson sold 564 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the transaction, the vice president owned 1,000 shares in the company, valued at approximately $949,940. The trade was a 36.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 10,063 shares of company stock valued at $9,891,214. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Jefferies Financial Group increased their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Citigroup raised their price target on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a report on Friday, January 30th. KeyCorp reiterated an “overweight” rating and issued a $1,100.00 price objective on shares of Parker-Hannifin in a research report on Friday, January 30th. Finally, Stifel Nicolaus increased their target price on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $995.37.

Parker-Hannifin Company Profile

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.