Teacher Retirement System of Texas boosted its holdings in shares of Parker-Hannifin Corp (NYSE:PH) by 56.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,227 shares of the industrial products company’s stock after buying an additional 13,115 shares during the period. Teacher Retirement System of Texas’ holdings in Parker-Hannifin were worth $7,230,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Penserra Capital Management LLC boosted its stake in Parker-Hannifin by 13.5% during the third quarter. Penserra Capital Management LLC now owns 2,360 shares of the industrial products company’s stock worth $415,000 after buying an additional 280 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in Parker-Hannifin by 5.5% during the third quarter. Stratos Wealth Partners LTD. now owns 5,407 shares of the industrial products company’s stock worth $946,000 after buying an additional 280 shares in the last quarter. Bank of Stockton boosted its stake in Parker-Hannifin by 3.3% during the third quarter. Bank of Stockton now owns 8,763 shares of the industrial products company’s stock worth $1,533,000 after buying an additional 281 shares in the last quarter. Nippon Life Insurance Co. boosted its stake in Parker-Hannifin by 2.7% during the third quarter. Nippon Life Insurance Co. now owns 11,068 shares of the industrial products company’s stock worth $1,937,000 after buying an additional 293 shares in the last quarter. Finally, QCI Asset Management Inc. NY boosted its stake in shares of Parker-Hannifin by 0.4% in the 3rd quarter. QCI Asset Management Inc. NY now owns 79,660 shares of the industrial products company’s stock valued at $13,942,000 after purchasing an additional 297 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.
Several equities research analysts have recently commented on PH shares. Zacks Investment Research upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating and set a $208.00 target price on the stock in a research note on Tuesday, November 7th. BMO Capital Markets boosted their target price on shares of Parker-Hannifin from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, November 6th. Robert W. Baird boosted their target price on shares of Parker-Hannifin from $183.00 to $194.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Cowen restated a “hold” rating and issued a $155.00 target price on shares of Parker-Hannifin in a research note on Sunday, October 29th. Finally, Wells Fargo & Co boosted their target price on shares of Parker-Hannifin from $205.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $200.83.
Parker-Hannifin Corp (NYSE PH) opened at $183.89 on Thursday. The stock has a market cap of $24,500.00, a PE ratio of 21.53, a P/E/G ratio of 1.56 and a beta of 1.31. The company has a current ratio of 1.49, a quick ratio of 0.99 and a debt-to-equity ratio of 0.87. Parker-Hannifin Corp has a 52-week low of $150.95 and a 52-week high of $212.80.
Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.08. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. Parker-Hannifin had a net margin of 6.54% and a return on equity of 23.15%. The firm’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.91 EPS. analysts forecast that Parker-Hannifin Corp will post 9.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.64 annualized dividend and a yield of 1.44%. Parker-Hannifin’s dividend payout ratio (DPR) is 30.91%.
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Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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