Maryland State Retirement & Pension System Has $4.38 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Maryland State Retirement & Pension System trimmed its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,890 shares of the industrial products company's stock after selling 428 shares during the period. Maryland State Retirement & Pension System's holdings in Parker-Hannifin were worth $4,382,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth about $25,000. Prestige Wealth Management Group LLC boosted its position in Parker-Hannifin by 83.3% in the third 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 in the last quarter. Bank of New Hampshire bought a new stake in Parker-Hannifin during the fourth quarter worth about $35,000. Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $44,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group dropped their price target on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a report on Friday, January 31st. Stifel Nicolaus lifted their price target on Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a report on Friday, January 31st. Evercore ISI upped their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group upped their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus price target of $736.65.

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Parker-Hannifin Trading Up 3.4 %

Shares of Parker-Hannifin stock traded up $21.11 during trading on Monday, hitting $643.21. 893,752 shares of the company were exchanged, compared to its average volume of 642,896. 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 capitalization of $82.79 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The firm's fifty day moving average price is $660.60 and its 200 day moving average price is $653.19. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating the consensus estimate 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, sell-side analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.01%. Parker-Hannifin's payout ratio is 26.99%.

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.