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

New York State Common Retirement Fund lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,890 shares of the industrial products company’s stock after acquiring an additional 200 shares during the quarter. New York State Common Retirement Fund owned about 0.13% of Parker-Hannifin worth $105,511,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prestige Wealth Management Group LLC lifted its holdings in 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 buying an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new position in Parker-Hannifin in the 4th quarter worth $35,000. Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin in the 3rd quarter worth $39,000. Kestra Investment Management LLC acquired a new position in Parker-Hannifin in the 4th quarter worth $40,000. Finally, Hager Investment Management Services LLC acquired a new position in Parker-Hannifin in the 4th quarter worth $44,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Truist Financial boosted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $739.06.

Parker-Hannifin Trading Up 0.9 %

Parker-Hannifin stock opened at $701.48 on Thursday. 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 firm has a 50-day moving average price of $665.08 and a two-hundred day moving average price of $642.79. The firm has a market capitalization of $90.30 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 2.87 and a beta of 1.45. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) 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%. Sell-side analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business 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 $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

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.