Parker-Hannifin Co. (NYSE:PH) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,615 shares of the industrial products company's stock after selling 2,438 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Parker-Hannifin were worth $34,737,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin during the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at approximately $25,000. Millstone Evans Group LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $30,000. Mpwm Advisory Solutions LLC purchased a new position in Parker-Hannifin in the 4th quarter valued at $32,000. Finally, Kestra Investment Management LLC purchased a new position in Parker-Hannifin during the 4th quarter worth $40,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the company's stock in a transaction that occurred 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 approximately $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.39% of the company's stock.

Parker-Hannifin Price Performance

Shares of PH traded down $0.08 during trading hours on Thursday, reaching $666.22. 160,456 shares of the company traded hands, compared to its average volume of 714,694. The stock has a market capitalization of $85.13 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. The stock has a fifty day simple moving average of $611.33 and a 200 day simple moving average of $647.41. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. 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 released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.72 by $0.22. The company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The firm's quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $6.51 EPS. As a group, research analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a $1.80 dividend. The ex-dividend date is Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio is currently 27.72%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PH. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $564.00 to $630.00 and gave the stock a "hold" rating in a research note on Friday, May 2nd. UBS Group cut their target price on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Wall Street Zen downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Barclays decreased their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, Wolfe Research cut Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus price target of $718.44.

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.