Arizona State Retirement System Sells 1,454 Shares of Parker-Hannifin Corporation $PH

Arizona State Retirement System trimmed its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,863 shares of the industrial products company’s stock after selling 1,454 shares during the quarter. Arizona State Retirement System’s holdings in Parker-Hannifin were worth $31,522,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PH. Texas Capital Bancshares Inc TX bought a new stake in Parker-Hannifin during the third quarter valued at approximately $25,000. Chilton Capital Management LLC bought a new position in shares of Parker-Hannifin during the 3rd quarter valued at approximately $29,000. Ameriflex Group Inc. grew its stake in shares of Parker-Hannifin by 366.7% during the 3rd 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 during the period. Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of Parker-Hannifin by 80.0% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 16 shares during the period. Finally, Morse Asset Management Inc grew its stake in shares of Parker-Hannifin by 164.7% during the 3rd quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 28 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PH. Jefferies Financial Group boosted their price objective on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Wells Fargo & Company cut their price objective on Parker-Hannifin from $1,050.00 to $980.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Barclays boosted their price objective on Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. BMO Capital Markets began coverage on Parker-Hannifin in a research note on Friday, March 27th. They set an “outperform” rating and a $1,090.00 price objective for the company. Finally, Robert W. Baird set a $1,050.00 price objective on Parker-Hannifin in a research note on Friday, January 30th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $1,000.60.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 1,457 shares of the firm’s stock in a transaction on 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of the firm’s 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 sale, the vice president owned 1,000 shares of the company’s stock, valued at approximately $949,940. This represents a 36.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 10,063 shares of company stock worth $9,891,214. Insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Up 2.1%

PH opened at $974.58 on Friday. The firm has a 50-day simple moving average of $953.12 and a two-hundred day simple moving average of $893.52. Parker-Hannifin Corporation has a 52 week low of $576.26 and a 52 week high of $1,034.96. The company has a market capitalization of $123.01 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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 net margin of 17.29% and a return on equity of 27.56%. During the same quarter in the prior year, the firm posted $6.53 earnings per share. Parker-Hannifin’s revenue was up 9.1% compared to the same quarter last year. Analysts forecast that Parker-Hannifin Corporation will post 30.99 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be issued a dividend of $2.00 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend is Friday, May 8th. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. 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.