California Public Employees Retirement System Has $254.93 Million Position in Parker-Hannifin Corporation $PH

California Public Employees Retirement System boosted its stake in Parker-Hannifin Corporation (NYSE:PH) by 51.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 336,247 shares of the industrial products company’s stock after purchasing an additional 114,008 shares during the quarter. California Public Employees Retirement System owned about 0.27% of Parker-Hannifin worth $254,926,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Texas Capital Bancshares Inc TX bought a new stake in Parker-Hannifin in the 3rd quarter valued at about $25,000. Chilton Capital Management LLC acquired a new stake in Parker-Hannifin in the third quarter valued at approximately $29,000. Ameriflex Group Inc. increased its holdings in shares of Parker-Hannifin by 366.7% during the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 33 shares in the last quarter. Valley Wealth Managers Inc. acquired a new position in shares of Parker-Hannifin during the third quarter worth approximately $36,000. Finally, Johnson Financial Group Inc. lifted its holdings in shares of Parker-Hannifin by 84.6% in the 3rd quarter. Johnson Financial Group Inc. now owns 48 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 22 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the transaction, the vice president directly owned 1,000 shares in the company, valued at approximately $949,940. The trade was a 36.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Berend Bracht sold 1,457 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $946.48, for a total value of $1,379,021.36. Following the sale, 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 position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 10,063 shares of company stock worth $9,891,214. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PH. Citigroup lifted their price objective on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a report on Friday, January 30th. JPMorgan Chase & Co. boosted their price objective on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Stifel Nicolaus upped their price target on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Finally, Barclays increased their price target on Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $995.37.

Parker-Hannifin Stock Performance

NYSE PH opened at $890.28 on Monday. The company has a market capitalization of $112.37 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 2.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,034.96. The company has a 50-day simple moving average of $959.64 and a 200 day simple moving average of $859.42.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the previous year, the company earned $6.53 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, research analysts predict that Parker-Hannifin Corporation 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 6th. Investors of record on Friday, February 6th were paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s payout ratio is currently 26.26%.

About Parker-Hannifin

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.