New York State Teachers Retirement System Has $61.38 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

New York State Teachers Retirement System trimmed its position in shares of Parker-Hannifin Co. (NYSE:PH) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 133,222 shares of the industrial products company’s stock after selling 828 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Parker-Hannifin worth $61,375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PH. Vanguard Group Inc. raised its holdings in shares of Parker-Hannifin by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock valued at $2,794,892,000 after purchasing an additional 190,889 shares during the period. State Street Corp increased its holdings in shares of Parker-Hannifin by 0.8% during the 2nd quarter. State Street Corp now owns 5,559,538 shares of the industrial products company’s stock worth $2,168,442,000 after acquiring an additional 41,684 shares during the last quarter. FMR LLC increased its holdings in shares of Parker-Hannifin by 9.6% in the third quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock valued at $1,437,096,000 after purchasing an additional 324,063 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Parker-Hannifin by 1.8% during the 3rd quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock worth $1,134,069,000 after buying an additional 52,739 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Parker-Hannifin by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 2,637,380 shares of the industrial products company’s stock worth $884,432,000 after buying an additional 58,506 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Up 2.0 %

Shares of NYSE:PH traded up $11.02 during trading on Friday, reaching $566.67. The stock had a trading volume of 480,897 shares, compared to its average volume of 499,903. The firm’s fifty day moving average is $530.59 and its 200 day moving average is $461.00. Parker-Hannifin Co. has a 52 week low of $308.26 and a 52 week high of $570.15. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. The stock has a market cap of $72.77 billion, a price-to-earnings ratio of 28.05, a P/E/G ratio of 2.04 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.26 by $0.89. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The business had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter last year, the firm posted $4.76 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. As a group, equities analysts forecast that Parker-Hannifin Co. will post 24.25 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Thursday, February 8th. Parker-Hannifin’s payout ratio is 29.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PH. Evercore ISI upped their price target on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Wolfe Research reissued a “peer perform” rating on shares of Parker-Hannifin in a report on Monday, December 11th. KeyCorp lifted their price target on shares of Parker-Hannifin from $500.00 to $575.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $551.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Finally, TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $511.31.

Insider Transactions at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the transaction, the executive vice president now owns 7,063 shares in the company, valued at approximately $3,552,265.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the sale, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The disclosure for this sale can be found here. Insiders have sold 12,079 shares of company stock valued at $6,099,566 over the last ninety days. 1.03% of the stock is owned by company insiders.

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.