California Public Employees Retirement System Sells 12,263 Shares of Parker-Hannifin Co. (NYSE:PH)

California Public Employees Retirement System reduced its position in Parker-Hannifin Co. (NYSE:PH) by 5.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 212,732 shares of the industrial products company’s stock after selling 12,263 shares during the period. California Public Employees Retirement System owned about 0.17% of Parker-Hannifin worth $135,304,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PH shares. Evercore ISI boosted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Truist Financial boosted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. UBS Group dropped their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Jefferies Financial Group boosted their target price 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. Finally, Citigroup began coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Stock Performance

PH stock opened at $600.78 on Monday. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $658.39 and a 200-day moving average price of $655.07. The firm has a market cap of $77.33 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, equities research 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 was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.09%. 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.