Arizona State Retirement System Acquires 242 Shares of Parker-Hannifin Co. (NYSE:PH)

Arizona State Retirement System grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,098 shares of the industrial products company’s stock after buying an additional 242 shares during the period. Arizona State Retirement System’s holdings in Parker-Hannifin were worth $23,595,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC boosted its stake in Parker-Hannifin by 83.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,793 shares of the industrial products company’s stock worth $1,140,000 after purchasing an additional 814 shares in the last quarter. Atria Investments Inc boosted its stake in Parker-Hannifin by 3.6% in the 4th quarter. Atria Investments Inc now owns 27,183 shares of the industrial products company’s stock worth $17,289,000 after purchasing an additional 935 shares in the last quarter. Assetmark Inc. boosted its stake in Parker-Hannifin by 2.6% in the 4th quarter. Assetmark Inc. now owns 22,023 shares of the industrial products company’s stock worth $14,007,000 after purchasing an additional 565 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in Parker-Hannifin by 91.2% in the 4th quarter. J.Safra Asset Management Corp now owns 174 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 83 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. boosted its stake in Parker-Hannifin by 3.2% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 2,015 shares of the industrial products company’s stock worth $1,282,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PH shares. Truist Financial upped their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Evercore ISI upped their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Jefferies Financial Group upped their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. KeyCorp upped their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Barclays lowered their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $739.06.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $640.86 on Thursday. The firm’s 50 day moving average price is $665.45 and its 200-day moving average price is $650.27. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $82.49 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Equities research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is 26.99%.

Parker-Hannifin Profile

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 Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.