New York State Teachers Retirement System Has $71.83 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

New York State Teachers Retirement System lowered its position in shares of Parker-Hannifin Co. (NYSE:PH) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,935 shares of the industrial products company’s stock after selling 6,214 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Parker-Hannifin worth $71,830,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its position in Parker-Hannifin by 39.2% during the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after acquiring an additional 181,859 shares during the last quarter. Howard Capital Management Group LLC acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $23,390,000. SG Americas Securities LLC boosted its position in Parker-Hannifin by 752.5% during the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock worth $15,507,000 after acquiring an additional 21,521 shares during the last quarter. Wilkinson Global Asset Management LLC boosted its position in Parker-Hannifin by 59.1% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after acquiring an additional 14,526 shares during the last quarter. Finally, Columbus Macro LLC boosted its holdings in shares of Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock valued at $6,838,000 after buying an additional 8,914 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Ratings Changes

PH has been the subject of several recent analyst reports. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a report on Thursday, December 12th. Argus increased their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company increased their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Barclays dropped their price target on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Truist Financial increased their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $693.89 on Friday. The stock’s 50 day moving average is $664.41 and its 200 day moving average is $637.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The firm has a market cap of $89.32 billion, a P/E ratio of 28.72, a P/E/G ratio of 2.84 and a beta of 1.45. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, research analysts expect that Parker-Hannifin Co. will post 26.67 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. 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.