California Public Employees Retirement System Has $62.13 Million Stake in Parker-Hannifin Corp (PH)
California Public Employees Retirement System boosted its stake in Parker-Hannifin Corp (NYSE:PH) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,985 shares of the industrial products company’s stock after purchasing an additional 10,761 shares during the quarter. California Public Employees Retirement System owned about 0.27% of Parker-Hannifin worth $62,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in PH. Israel Discount Bank of New York raised its stake in Parker-Hannifin by 31.6% in the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 150 shares in the last quarter. Parallel Advisors LLC raised its stake in Parker-Hannifin by 4.1% in the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 24 shares in the last quarter. IHT Wealth Management LLC raised its stake in Parker-Hannifin by 20.8% in the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 20 shares in the last quarter. BT Investment Management Ltd purchased a new position in shares of Parker-Hannifin during the second quarter worth approximately $124,000. Finally, Sun Life Financial INC raised its stake in shares of Parker-Hannifin by 8,108.3% during the second quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 973 shares in the last quarter. 78.24% of the stock is currently owned by institutional investors and hedge funds.
PH has been the topic of several research reports. Credit Suisse Group lifted their price target on shares of Parker-Hannifin from $205.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Deutsche Bank lifted their price target on shares of Parker-Hannifin to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. Stifel Nicolaus reissued a “buy” rating and set a $210.00 price target on shares of Parker-Hannifin in a research note on Friday, November 3rd. ValuEngine raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BMO Capital Markets reissued a “buy” rating and set a $200.00 price target on shares of Parker-Hannifin in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $188.95.
In related news, VP Thomas C. Gentile sold 326 shares of Parker-Hannifin stock in a transaction on Friday, November 10th. The shares were sold at an average price of $181.89, for a total value of $59,296.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Lee C. Banks sold 5,286 shares of Parker-Hannifin stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $186.38, for a total transaction of $985,204.68. Following the completion of the sale, the chief operating officer now owns 112,808 shares in the company, valued at approximately $21,025,155.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,495 shares of company stock worth $4,127,941. 1.12% of the stock is currently owned by company insiders.
Shares of Parker-Hannifin Corp (NYSE PH) traded up $2.85 during midday trading on Thursday, hitting $194.71. 959,000 shares of the company traded hands, compared to its average volume of 990,834. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87. Parker-Hannifin Corp has a 12 month low of $139.49 and a 12 month high of $195.30. The stock has a market capitalization of $25,940.00, a P/E ratio of 22.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40.
Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.02 by $0.22. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the previous year, the firm earned $1.61 earnings per share. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. equities analysts predict that Parker-Hannifin Corp will post 9.56 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 1.36%. The ex-dividend date was Thursday, November 9th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 33.89%.
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Parker-Hannifin Company Profile
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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