New York State Teachers Retirement System Trims Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

New York State Teachers Retirement System decreased its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,935 shares of the industrial products company's stock after selling 6,214 shares during the period. New York State Teachers Retirement System owned 0.09% of Parker-Hannifin worth $71,830,000 as of its most recent SEC filing.

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

Parker-Hannifin Price Performance

PH stock traded down $6.12 on Tuesday, reaching $694.13. 760,606 shares of the company's stock were exchanged, compared to its average volume of 656,268. The stock has a fifty day moving average of $664.75 and a 200-day moving average of $641.55. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The firm has a market cap of $89.35 billion, a PE ratio of 28.73, a P/E/G ratio of 2.84 and a beta of 1.45. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results 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, equities analysts predict that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.94%. Parker-Hannifin's payout ratio is 26.99%.

Wall Street Analysts Forecast Growth

PH has been the topic of several research analyst reports. KeyCorp lifted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Robert W. Baird boosted their target price on Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a report on Friday, November 1st. UBS Group dropped their target price on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. TD Cowen boosted their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a "hold" rating in a report on Tuesday, November 12th. Finally, Wolfe Research raised Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 target price on the stock in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and an average price target of $729.18.

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.