Parker-Hannifin Co. (NYSE:PH) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 58.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,119 shares of the industrial products company’s stock after selling 43,562 shares during the quarter. Teacher Retirement System of Texas’ holdings in Parker-Hannifin were worth $19,793,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PH. Empowered Funds LLC grew its stake in shares of Parker-Hannifin by 13.5% during the 3rd quarter. Empowered Funds LLC now owns 2,499 shares of the industrial products company’s stock worth $1,579,000 after purchasing an additional 298 shares during the period. Prospera Financial Services Inc grew its stake in shares of Parker-Hannifin by 37.0% during the 3rd quarter. Prospera Financial Services Inc now owns 1,347 shares of the industrial products company’s stock worth $853,000 after purchasing an additional 364 shares during the period. Cornerstone Advisors LLC grew its stake in shares of Parker-Hannifin by 5.0% during the 3rd quarter. Cornerstone Advisors LLC now owns 4,200 shares of the industrial products company’s stock worth $2,654,000 after purchasing an additional 200 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Parker-Hannifin by 3.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 9,771 shares of the industrial products company’s stock worth $6,174,000 after purchasing an additional 309 shares during the period. Finally, Landscape Capital Management L.L.C. grew its stake in shares of Parker-Hannifin by 25.7% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 2,543 shares of the industrial products company’s stock worth $1,607,000 after purchasing an additional 520 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PH shares. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research note on Thursday, December 12th. StockNews.com cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company increased their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Evercore ISI increased their price objective 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. Finally, Jefferies Financial Group increased their price objective 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. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Price Performance

NYSE:PH opened at $622.79 on Friday. The firm has a market cap of $80.17 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average is $660.60 and its two-hundred day moving average is $652.13.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. Research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.05%. Parker-Hannifin’s payout ratio is currently 26.99%.

About Parker-Hannifin

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.