State of Alaska Department of Revenue Has $9.33 Million Stake in Parker-Hannifin Co. (NYSE:PH)

State of Alaska Department of Revenue reduced its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,675 shares of the industrial products company’s stock after selling 255 shares during the quarter. State of Alaska Department of Revenue’s holdings in Parker-Hannifin were worth $9,333,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. West Branch Capital LLC purchased a new position in shares of Parker-Hannifin during the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC boosted its position in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new position in Parker-Hannifin in the fourth quarter valued at about $35,000. Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin in the 3rd quarter worth about $39,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth about $44,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stifel Nicolaus increased their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. TD Cowen lifted their price objective 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. Mizuho increased their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays cut their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Argus increased their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $725.06.

Parker-Hannifin Price Performance

NYSE:PH opened at $691.65 on Friday. 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 Co. has a one year low of $492.71 and a one year high of $718.44. The company has a fifty day moving average price of $666.12 and a 200 day moving average price of $633.00. The stock has a market cap of $89.03 billion, a P/E ratio of 28.63, a PEG ratio of 2.90 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. Analysts anticipate that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. Parker-Hannifin’s payout ratio is 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.