California Public Employees Retirement System Purchases 114,008 Shares of Parker-Hannifin Corporation $PH

California Public Employees Retirement System boosted its position in Parker-Hannifin Corporation (NYSE:PH) by 51.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 336,247 shares of the industrial products company’s stock after purchasing an additional 114,008 shares during the quarter. California Public Employees Retirement System’s holdings in Parker-Hannifin were worth $254,926,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PH. Texas Capital Bancshares Inc TX purchased a new position in shares of Parker-Hannifin during the 3rd quarter valued at $25,000. Chilton Capital Management LLC purchased a new stake in shares of Parker-Hannifin in the third quarter worth $29,000. Ameriflex Group Inc. boosted its stake in Parker-Hannifin by 366.7% during the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after buying an additional 33 shares during the period. Valley Wealth Managers Inc. bought a new stake in Parker-Hannifin during the third quarter valued at $36,000. Finally, Johnson Financial Group Inc. grew its position in Parker-Hannifin by 84.6% during the third quarter. Johnson Financial Group Inc. now owns 48 shares of the industrial products company’s stock worth $36,000 after buying an additional 22 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Jefferies Financial Group boosted their price objective on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Finally, BNP Paribas Exane began coverage on shares of Parker-Hannifin in a report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price target on the stock. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $995.37.

Parker-Hannifin Trading Down 1.3%

PH stock opened at $890.28 on Monday. The company has a market capitalization of $112.37 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 2.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $1,034.96. The company’s 50 day moving average price is $959.64 and its two-hundred day moving average price is $859.42.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating the consensus estimate of $7.11 by $0.54. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $6.53 EPS. As a group, analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were paid a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the transaction, the chief financial officer directly owned 20,610 shares of the company’s stock, valued at $20,658,227.40. The trade was a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Berend Bracht sold 1,457 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the sale, the vice president directly owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. This trade represents a 36.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 10,063 shares of company stock valued at $9,891,214. 0.32% of the stock is currently owned by corporate insiders.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.