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

Employees Retirement System of Texas decreased its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 18.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 143,186 shares of the industrial products company's stock after selling 31,808 shares during the quarter. Parker-Hannifin accounts for about 0.8% of Employees Retirement System of Texas' investment portfolio, making the stock its 25th largest position. Employees Retirement System of Texas owned approximately 0.11% of Parker-Hannifin worth $91,071,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Whipplewood Advisors LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Parker-Hannifin during the 4th quarter valued at $25,000. Millstone Evans Group LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at $30,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter worth $32,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter worth $40,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the transaction, the vice president now owns 2,083 shares of the company's stock, valued at $1,292,230.71. The trade was a 6.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Down 0.5%

Shares of PH traded down $3.38 during mid-day trading on Friday, hitting $663.85. 1,042,542 shares of the company's stock were exchanged, compared to its average volume of 718,272. The stock has a market cap of $84.83 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 2.85 and a beta of 1.36. The firm has a fifty day moving average of $612.05 and a two-hundred day moving average of $646.88. 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 Co. has a twelve month low of $488.45 and a twelve month high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The firm had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the prior year, the business posted $6.51 earnings per share. The business's quarterly revenue was down 2.2% on a year-over-year basis. On average, sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be issued a $1.80 dividend. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.08%. The ex-dividend date is Friday, May 9th. Parker-Hannifin's payout ratio is 27.72%.

Analysts Set New Price Targets

Several research firms recently weighed in on PH. KeyCorp upped their price target on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Wells Fargo & Company upped their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Wall Street Zen lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Citigroup lowered their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Barclays dropped their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $718.44.

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.