Employees Retirement System of Texas Has $91.07 Million Stake in Parker-Hannifin Co. (NYSE:PH)

Employees Retirement System of Texas cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 18.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,186 shares of the industrial products company's stock after selling 31,808 shares during the period. Employees Retirement System of Texas owned approximately 0.11% of Parker-Hannifin worth $91,071,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at about $25,000. Millstone Evans Group LLC bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $30,000. Prestige Wealth Management Group LLC raised its stake in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 25 shares during the period. Finally, Bank of New Hampshire bought a new position in Parker-Hannifin in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Up 0.8 %

NYSE:PH traded up $4.60 during trading hours on Friday, reaching $564.78. The company's stock had a trading volume of 938,635 shares, compared to its average volume of 710,689. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44. The business's 50-day moving average is $631.27 and its 200-day moving average is $650.91. The company has a market cap of $72.70 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

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Parker-Hannifin (NYSE:PH - Get Free Report) 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%. Equities research analysts predict 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 was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's payout ratio is 26.99%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Evercore ISI increased their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. UBS Group decreased their price target on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. KeyCorp dropped their price target on shares of Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating for the company in a research note on Tuesday. Truist Financial reduced their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, StockNews.com cut Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $720.47.

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.