Employees Retirement System of Texas Decreases Stock Position in Parker-Hannifin Co. (NYSE:PH)

Employees Retirement System of Texas lowered its position in shares of Parker-Hannifin Co. (NYSE:PH) by 18.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,186 shares of the industrial products company’s stock after selling 31,808 shares during the period. Employees Retirement System of Texas owned approximately 0.11% of Parker-Hannifin worth $91,071,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Trek Financial LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter worth about $3,207,000. Benchmark Investment Advisors LLC raised its position in shares of Parker-Hannifin by 4.3% in the 4th quarter. Benchmark Investment Advisors LLC now owns 3,356 shares of the industrial products company’s stock valued at $2,135,000 after purchasing an additional 138 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $25,000. Federated Hermes Inc. grew its position in shares of Parker-Hannifin by 24.5% during the fourth quarter. Federated Hermes Inc. now owns 53,999 shares of the industrial products company’s stock worth $34,345,000 after buying an additional 10,628 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Parker-Hannifin by 6.9% during the 4th quarter. Russell Investments Group Ltd. now owns 86,003 shares of the industrial products company’s stock valued at $54,707,000 after acquiring an additional 5,542 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. UBS Group dropped 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 report on Friday, January 31st. Barclays cut their price objective on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Wolfe Research lowered Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday. StockNews.com lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Finally, Truist Financial lifted their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Stock Down 7.1 %

Shares of Parker-Hannifin stock opened at $517.00 on Monday. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The business’s fifty day moving average price is $649.18 and its two-hundred day moving average price is $654.59. 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 company has a market capitalization of $66.55 billion, a P/E ratio of 21.40, a PEG 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 for the quarter, topping 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%. As a group, research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.26%. Parker-Hannifin’s dividend payout ratio (DPR) 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.