Public Employees Retirement System of Ohio Sells 2,438 Shares of Parker-Hannifin Co. (NYSE:PH)

Public Employees Retirement System of Ohio trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,615 shares of the industrial products company’s stock after selling 2,438 shares during the period. Public Employees Retirement System of Ohio’s holdings in Parker-Hannifin were worth $34,737,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PH. Norges Bank acquired a new position in shares of Parker-Hannifin during the 4th quarter valued at about $1,106,132,000. Proficio Capital Partners LLC grew its holdings in Parker-Hannifin by 116,370.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after purchasing an additional 1,139,265 shares during the last quarter. Royal Bank of Canada raised its position in shares of Parker-Hannifin by 99.8% in the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock valued at $1,448,241,000 after purchasing an additional 1,137,564 shares during the period. Capital World Investors acquired a new stake in shares of Parker-Hannifin in the fourth quarter worth $418,174,000. Finally, OMERS ADMINISTRATION Corp lifted its stake in shares of Parker-Hannifin by 6,912.4% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 312,472 shares of the industrial products company’s stock worth $198,742,000 after buying an additional 308,016 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PH shares. Wells Fargo & Company lifted their target price 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. UBS Group cut their price objective 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. Truist Financial decreased their target price on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Argus set a $680.00 price target on Parker-Hannifin in a research report on Tuesday, May 6th. Finally, Wolfe Research cut Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $718.44.

Insider Transactions at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the sale, the vice president now owns 2,083 shares of the company’s stock, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Stock Down 0.2%

PH opened at $655.98 on Friday. The company has a market capitalization of $83.82 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.85 and a beta of 1.36. 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 firm’s fifty day moving average price is $609.02 and its two-hundred day moving average price is $648.11. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the business earned $6.51 EPS. The firm’s revenue was down 2.2% on a year-over-year basis. On average, analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be paid a $1.80 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Friday, May 9th. Parker-Hannifin’s dividend payout ratio is currently 27.72%.

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.