State of New Jersey Common Pension Fund D Buys 2,007 Shares of Parker-Hannifin Corporation $PH

State of New Jersey Common Pension Fund D grew its stake in Parker-Hannifin Corporation (NYSE:PH) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,672 shares of the industrial products company’s stock after acquiring an additional 2,007 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Parker-Hannifin were worth $33,868,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PH. Procyon Advisors LLC raised its holdings in Parker-Hannifin by 158,565.9% in the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after purchasing an additional 5,066,179 shares in the last quarter. Norges Bank bought a new position in shares of Parker-Hannifin during the 2nd quarter worth approximately $1,352,509,000. Canada Pension Plan Investment Board lifted its position in Parker-Hannifin by 115.7% during the second quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock valued at $256,970,000 after acquiring an additional 197,317 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Parker-Hannifin by 9.1% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company’s stock valued at $1,145,199,000 after acquiring an additional 136,359 shares during the last quarter. Finally, Lazard Freres Gestion S.A.S. acquired a new stake in Parker-Hannifin in the third quarter valued at approximately $103,284,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Dinu J. Parel sold 1,316 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total value of $1,250,265.80. Following the sale, the vice president owned 6,534 shares in the company, valued at approximately $6,207,626.70. This represents a 16.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction that occurred 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 transaction, the vice president directly owned 1,000 shares of the company’s stock, valued at approximately $949,940. This trade represents a 36.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,551 shares of company stock valued at $12,117,502 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Trading Up 1.9%

Parker-Hannifin stock opened at $1,001.30 on Monday. The stock has a 50-day moving average price of $920.62 and a 200 day moving average price of $825.21. The company has a market capitalization of $126.38 billion, a price-to-earnings ratio of 36.52, a price-to-earnings-growth ratio of 3.23 and a beta of 1.25. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $1,012.49. 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 issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping 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%. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the prior year, the company earned $6.53 EPS. Parker-Hannifin’s quarterly revenue was up 9.1% on a year-over-year basis. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently commented on the company. Susquehanna reiterated a “positive” rating and set a $1,000.00 price objective on shares of Parker-Hannifin in a report on Wednesday, November 12th. Wells Fargo & Company upped their target price on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Barclays raised their price target on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Truist Financial set a $1,139.00 price objective on shares of Parker-Hannifin in a report on Friday, January 30th. Finally, BNP Paribas Exane initiated coverage on shares of Parker-Hannifin in a research report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price objective for the company. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $990.47.

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.