Arizona State Retirement System Increases Stake in Parker-Hannifin Co. (NYSE:PH)

Arizona State Retirement System raised its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,098 shares of the industrial products company’s stock after buying an additional 242 shares during the quarter. Arizona State Retirement System’s holdings in Parker-Hannifin were worth $23,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at approximately $25,000. Prestige Wealth Management Group LLC boosted its position in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire bought a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $35,000. Kestra Investment Management LLC bought a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $40,000. Finally, Hager Investment Management Services LLC bought a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $44,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Up 2.6 %

NYSE:PH opened at $640.86 on Thursday. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The company has a market cap of $82.49 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The stock has a fifty day simple moving average of $665.45 and a 200-day simple moving average of $650.27. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 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%. Analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.02%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PH. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. UBS Group lowered their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. TD Cowen increased their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Barclays lowered their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, KeyCorp raised their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $739.06.

About Parker-Hannifin

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.