Parker-Hannifin Co. (NYSE:PH) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 5.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,890 shares of the industrial products company’s stock after selling 428 shares during the period. Maryland State Retirement & Pension System’s holdings in Parker-Hannifin were worth $4,382,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC grew its stake in shares of Parker-Hannifin by 13.5% in the third quarter. Empowered Funds LLC now owns 2,499 shares of the industrial products company’s stock worth $1,579,000 after acquiring an additional 298 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Parker-Hannifin by 4.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 39,887 shares of the industrial products company’s stock worth $25,201,000 after purchasing an additional 1,825 shares in the last quarter. LMR Partners LLP grew its stake in Parker-Hannifin by 13.2% during the 3rd quarter. LMR Partners LLP now owns 694 shares of the industrial products company’s stock worth $438,000 after purchasing an additional 81 shares in the last quarter. Aviance Capital Partners LLC increased its holdings in Parker-Hannifin by 9.7% during the 3rd quarter. Aviance Capital Partners LLC now owns 543 shares of the industrial products company’s stock worth $343,000 after purchasing an additional 48 shares during the period. Finally, Pathstone Holdings LLC raised its position in Parker-Hannifin by 13.4% in the 3rd quarter. Pathstone Holdings LLC now owns 18,551 shares of the industrial products company’s stock valued at $11,721,000 after purchasing an additional 2,186 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on PH. Evercore ISI upped their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Citigroup initiated coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 price objective for the company. UBS Group lowered their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Truist Financial raised their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Up 2.2 %

Shares of NYSE:PH opened at $629.93 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The stock has a market cap of $81.08 billion, a P/E ratio of 26.07, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The firm has a fifty day moving average price of $661.07 and a 200 day moving average price of $652.16.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Sell-side analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

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.