State of Alaska Department of Revenue Has $11.05 Million Stake in Parker-Hannifin Corporation $PH

Key Points

• State of Alaska Department of Revenue reduced its stake in Parker‑Hannifin by 10% to 12,577 shares, now worth approximately $11.05 million.
• Parker‑Hannifin beat quarterly expectations with $7.65 EPS vs. $7.11 expected and revenue up 9.1%, and it pays a quarterly dividend of $1.80 (annualized $7.20, yield 0.7%).
• Insiders sold about $9.89 million of stock (10,063 shares) over the last 90 days, while analysts remain mostly positive with a consensus "Moderate Buy" and an average price target near $1,000.60.

State of Alaska Department of Revenue decreased its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 10.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,577 shares of the industrial products company's stock after selling 1,390 shares during the quarter. State of Alaska Department of Revenue's holdings in Parker-Hannifin were worth $11,054,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Texas Capital Bancshares Inc TX acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth approximately $25,000. Chilton Capital Management LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth approximately $29,000. Ameriflex Group Inc. grew its position in shares of Parker-Hannifin by 366.7% during the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company's stock worth $32,000 after buying an additional 33 shares during the period. Morse Asset Management Inc grew its position in shares of Parker-Hannifin by 164.7% during the 3rd quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company's stock worth $34,000 after buying an additional 28 shares during the period. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Up 0.5%

Shares of NYSE PH opened at $989.62 on Tuesday. The stock has a market capitalization of $124.91 billion, a P/E ratio of 36.09, a P/E/G ratio of 3.17 and a beta of 1.25. The company has a 50-day moving average price of $953.77 and a 200-day moving average price of $883.20. Parker-Hannifin Corporation has a 1 year low of $538.08 and a 1 year high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The company's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.53 EPS. On average, equities research analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, February 6th. Parker-Hannifin's payout ratio is currently 26.26%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of Parker-Hannifin in a research report on Friday, March 27th. They set an "outperform" rating and a $1,090.00 price objective for the company. Barclays lifted their price target on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. The Goldman Sachs Group restated a "buy" rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an "overweight" rating in a report on Friday, January 30th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus price target of $1,000.60.

Insider Activity

In other Parker-Hannifin news, VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the transaction, the vice president directly owned 2,580 shares of the company's stock, valued at $2,441,918.40. The trade was a 36.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Todd M. Leombruno sold 2,062 shares of Parker-Hannifin stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 10,063 shares of company stock worth $9,891,214. Company insiders own 0.32% of the company's stock.

Parker-Hannifin Profile

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.

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