Public Sector Pension Investment Board Has $166.34 Million Stake in Parker-Hannifin Corporation $PH

Public Sector Pension Investment Board cut its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 20.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 219,401 shares of the industrial products company’s stock after selling 54,914 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.17% of Parker-Hannifin worth $166,339,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PH. Moment Partners LLC raised its position in shares of Parker-Hannifin by 4.9% during the third quarter. Moment Partners LLC now owns 475 shares of the industrial products company’s stock worth $360,000 after acquiring an additional 22 shares during the last quarter. Connable Office Inc. increased its position in Parker-Hannifin by 23.6% during the 3rd quarter. Connable Office Inc. now owns 3,579 shares of the industrial products company’s stock valued at $2,713,000 after purchasing an additional 683 shares during the period. 1776 Wealth LLC bought a new position in Parker-Hannifin during the 3rd quarter worth approximately $534,000. Illinois Municipal Retirement Fund lifted its position in shares of Parker-Hannifin by 34.6% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 2,279 shares of the industrial products company’s stock worth $1,728,000 after purchasing an additional 586 shares during the period. Finally, ICW Investment Advisors LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter worth approximately $249,000. Institutional investors own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the sale, the vice president owned 1,000 shares in the company, valued at approximately $949,940. The trade was a 36.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Berend Bracht sold 1,457 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the completion of the transaction, the vice president directly owned 2,580 shares in the company, valued at $2,441,918.40. This trade represents a 36.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 5,825 shares of company stock valued at $5,391,341 over the last ninety days. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PH shares. The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. JPMorgan Chase & Co. upped their price target on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Mizuho lifted their price objective on Parker-Hannifin from $800.00 to $825.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Robert W. Baird set a $1,050.00 price objective on Parker-Hannifin in a research note on Friday, January 30th. Finally, Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $990.47.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $981.92 on Friday. The firm has a market capitalization of $123.94 billion, a P/E ratio of 35.81, a P/E/G ratio of 3.21 and a beta of 1.25. The firm’s 50-day moving average price is $918.20 and its 200-day moving average price is $822.11. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,012.49.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same period last year, the business posted $6.53 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be issued a dividend of $1.80 per share. The ex-dividend date is Friday, February 6th. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. Parker-Hannifin’s payout ratio is currently 26.26%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.