Parker-Hannifin Co. (NYSE:PH) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board decreased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,110 shares of the industrial products company’s stock after selling 200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Parker-Hannifin were worth $3,886,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. West Branch Capital LLC purchased a new position in shares of Parker-Hannifin during the 3rd quarter worth $25,000. Prestige Wealth Management Group LLC grew its stake in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after buying an additional 25 shares during the period. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Parker-Hannifin during the 3rd quarter valued at approximately $39,000. Finally, Hager Investment Management Services LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PH. Argus upped 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. Truist Financial lifted their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Wells Fargo & Company lifted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Citigroup assumed coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $729.18.

Parker-Hannifin Trading Up 0.9 %

PH opened at $700.13 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The company has a market cap of $90.12 billion, a P/E ratio of 28.98, a PEG ratio of 2.84 and a beta of 1.45. The business’s 50-day simple moving average is $664.39 and its 200-day simple moving average is $638.17.

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

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is currently 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.