Texas Permanent School Fund Sells 1,142 Shares of Parker-Hannifin Co. (NYSE:PH)

Texas Permanent School Fund reduced its stake in Parker-Hannifin Co. (NYSE:PH – Get Rating) by 6.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,665 shares of the industrial products company’s stock after selling 1,142 shares during the period. Texas Permanent School Fund’s holdings in Parker-Hannifin were worth $4,729,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PH. Norges Bank purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth $720,070,000. Adage Capital Partners GP L.L.C. raised its position in shares of Parker-Hannifin by 230.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 417,806 shares of the industrial products company’s stock worth $132,912,000 after buying an additional 291,400 shares in the last quarter. Madison Asset Management LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth $60,107,000. Alliancebernstein L.P. raised its position in shares of Parker-Hannifin by 19.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,152,967 shares of the industrial products company’s stock worth $366,782,000 after buying an additional 185,523 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its position in shares of Parker-Hannifin by 768.6% in the fourth quarter. Public Sector Pension Investment Board now owns 192,141 shares of the industrial products company’s stock worth $61,124,000 after buying an additional 170,019 shares in the last quarter. 80.55% of the stock is owned by institutional investors.

Parker-Hannifin Stock Down 0.2 %

PH opened at $292.82 on Friday. The company has a market cap of $37.59 billion, a P/E ratio of 22.65, a P/E/G ratio of 1.69 and a beta of 1.57. The business’s 50-day moving average price is $261.49 and its 200-day moving average price is $277.60. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.69. Parker-Hannifin Co. has a 12 month low of $230.44 and a 12 month high of $340.00.

Parker-Hannifin (NYSE:PH – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The industrial products company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.67 by $0.49. The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.07 billion. Parker-Hannifin had a return on equity of 27.07% and a net margin of 10.82%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.38 earnings per share. On average, equities analysts expect that Parker-Hannifin Co. will post 18.23 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PH shares. Barclays lowered their price objective on Parker-Hannifin from $335.00 to $329.00 and set an “overweight” rating on the stock in a research report on Friday, July 8th. Credit Suisse Group set a $330.00 price target on Parker-Hannifin in a research report on Tuesday, July 19th. StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lowered their price target on Parker-Hannifin from $336.00 to $274.00 and set a “hold” rating on the stock in a research report on Wednesday, July 13th. Finally, Wells Fargo & Company lowered their price target on Parker-Hannifin from $301.00 to $289.00 in a research report on Tuesday, July 12th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $327.23.

Insider Buying and Selling

In other Parker-Hannifin news, Director James L. Wainscott bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The shares were bought at an average cost of $273.44 per share, with a total value of $273,440.00. Following the completion of the purchase, the director now directly owns 18,280 shares of the company’s stock, valued at $4,998,483.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.47% of the stock is owned by insiders.

About Parker-Hannifin

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Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments, Diversified Industrial and Aerospace Systems. The Company's Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.