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

California Public Employees Retirement System decreased its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,899 shares of the industrial products company's stock after selling 9,305 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Parker-Hannifin worth $110,061,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Wilbanks Smith & Thomas Asset Management LLC boosted its stake in Parker-Hannifin by 0.7% in the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company's stock valued at $1,417,000 after buying an additional 25 shares in the last quarter. M&R Capital Management Inc. boosted its stake in Parker-Hannifin by 25.0% in the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company's stock worth $58,000 after purchasing an additional 25 shares in the last quarter. Private Trust Co. NA boosted its stake in Parker-Hannifin by 0.7% in the fourth quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company's stock worth $1,730,000 after purchasing an additional 25 shares in the last quarter. Keel Point LLC boosted its stake in Parker-Hannifin by 3.1% in the fourth quarter. Keel Point LLC now owns 842 shares of the industrial products company's stock worth $388,000 after purchasing an additional 25 shares in the last quarter. Finally, Caprock Group LLC boosted its stake in Parker-Hannifin by 1.8% in the fourth quarter. Caprock Group LLC now owns 1,503 shares of the industrial products company's stock worth $692,000 after purchasing an additional 26 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Down 0.7 %

NYSE PH traded down $4.05 during trading hours on Wednesday, hitting $546.35. 664,584 shares of the company traded hands, compared to its average volume of 585,092. The business's 50-day moving average is $541.56 and its 200-day moving average is $475.61. Parker-Hannifin Co. has a twelve month low of $309.89 and a twelve month high of $570.15. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. The stock has a market capitalization of $70.16 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 1.98 and a beta of 1.52.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.26 by $0.89. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The company had revenue of $4.82 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same period last year, the firm posted $4.76 earnings per share. The business's revenue was up 3.1% on a year-over-year basis. Sell-side analysts anticipate that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a dividend of $1.48 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. Parker-Hannifin's dividend payout ratio (DPR) is currently 29.31%.

Insider Transactions at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the transaction, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the transaction, the vice president now directly owns 5,465 shares of the company's stock, valued at approximately $2,741,899.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the transaction, the executive vice president now directly owns 7,063 shares of the company's stock, valued at $3,552,265.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,079 shares of company stock worth $6,099,566. Company insiders own 1.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PH shares. The Goldman Sachs Group reissued a "buy" rating and issued a $551.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Truist Financial initiated coverage on Parker-Hannifin in a research note on Thursday, March 14th. They set a "buy" rating and a $602.00 price target on the stock. Barclays upped their price objective on Parker-Hannifin from $558.00 to $625.00 and gave the company an "overweight" rating in a report on Tuesday, April 2nd. TD Cowen upgraded Parker-Hannifin from an "underperform" rating to a "market perform" rating and increased their price target for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Finally, Evercore ISI increased their price target on Parker-Hannifin from $505.00 to $590.00 and gave the stock an "outperform" rating in a report on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $515.38.

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.