Teacher Retirement System of Texas Has $19.79 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Teacher Retirement System of Texas cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 58.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,119 shares of the industrial products company's stock after selling 43,562 shares during the quarter. Teacher Retirement System of Texas' holdings in Parker-Hannifin were worth $19,793,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Global Retirement Partners LLC raised its position in shares of Parker-Hannifin by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock valued at $886,000 after purchasing an additional 15 shares during the period. FFT Wealth Management LLC raised its holdings in Parker-Hannifin by 1.3% in the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock valued at $732,000 after acquiring an additional 15 shares during the period. GenTrust LLC raised its holdings in Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock valued at $333,000 after acquiring an additional 15 shares during the period. Grove Bank & Trust boosted its holdings in shares of Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company's stock worth $95,000 after acquiring an additional 16 shares during the period. Finally, Moody Lynn & Lieberson LLC grew its position in shares of Parker-Hannifin by 0.6% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company's stock valued at $1,723,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 82.44% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts recently weighed in on PH shares. KeyCorp lifted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Barclays reduced their target price on shares of Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Jefferies Financial Group raised their price target 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. UBS Group cut their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a report on Friday, January 31st. Finally, StockNews.com cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $736.65.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded down $14.54 during trading on Wednesday, reaching $636.82. 953,374 shares of the company's stock were exchanged, compared to its average volume of 645,770. 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 1-year low of $492.71 and a 1-year high of $718.44. The company has a market cap of $81.97 billion, a P/E ratio of 26.36, a PEG ratio of 2.85 and a beta of 1.50. The firm's 50-day moving average price is $660.80 and its 200 day moving average price is $654.24.

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, topping the consensus estimate 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, research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. Parker-Hannifin's dividend 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.