New York State Common Retirement Fund Reduces Holdings in Parker-Hannifin Co. (NYSE:PH)

New York State Common Retirement Fund cut its position in Parker-Hannifin Co. (NYSE:PH) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 165,690 shares of the industrial products company’s stock after selling 8,300 shares during the quarter. New York State Common Retirement Fund’s holdings in Parker-Hannifin were worth $104,686,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV grew its position in shares of Parker-Hannifin by 1.5% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,873 shares of the industrial products company’s stock worth $1,183,000 after buying an additional 28 shares in the last quarter. Focus Financial Network Inc. increased its position in shares of Parker-Hannifin by 8.9% in the 3rd quarter. Focus Financial Network Inc. now owns 651 shares of the industrial products company’s stock worth $411,000 after purchasing an additional 53 shares during the last quarter. Principal Securities Inc. raised its stake in shares of Parker-Hannifin by 27.6% in the 3rd quarter. Principal Securities Inc. now owns 4,956 shares of the industrial products company’s stock valued at $3,132,000 after purchasing an additional 1,073 shares in the last quarter. Stephens Inc. AR lifted its position in shares of Parker-Hannifin by 7.1% during the third quarter. Stephens Inc. AR now owns 3,472 shares of the industrial products company’s stock worth $2,194,000 after purchasing an additional 230 shares during the last quarter. Finally, IRON Financial LLC acquired a new position in Parker-Hannifin in the third quarter worth about $209,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PH has been the topic of a number of research analyst reports. Wells Fargo & Company increased their target price on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Robert W. Baird raised their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday. KeyCorp boosted their target price on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Evercore ISI increased their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Finally, Mizuho lifted their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $664.57.

Parker-Hannifin Price Performance

NYSE PH opened at $635.03 on Friday. The firm has a market capitalization of $81.71 billion, a PE ratio of 29.14, a P/E/G ratio of 2.53 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. Parker-Hannifin Co. has a 12 month low of $395.00 and a 12 month high of $646.60. The company’s 50 day simple moving average is $615.46 and its 200 day simple moving average is $564.90.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $5.96 earnings per share. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 26.68 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.92%.

Insider Activity

In related news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares of the company’s stock, valued at $2,299,947. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

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.