Parker-Hannifin Co. (NYSE:PH) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,675 shares of the industrial products company’s stock after selling 255 shares during the quarter. State of Alaska Department of Revenue’s holdings in Parker-Hannifin were worth $9,333,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. West Branch Capital LLC bought a new position in shares of Parker-Hannifin during the third quarter worth about $25,000. Prestige Wealth Management Group LLC grew its position in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Parker-Hannifin during the third quarter valued at approximately $39,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $44,000. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on PH. Robert W. Baird raised their target price on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company raised their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. StockNews.com cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Mizuho upped their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $725.06.

Parker-Hannifin Stock Up 0.4 %

Shares of Parker-Hannifin stock opened at $691.65 on Friday. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The firm has a market capitalization of $89.03 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 2.90 and a beta of 1.45. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock’s fifty day moving average is $666.12 and its 200-day moving average is $633.00.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Equities analysts anticipate that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

Parker-Hannifin Company 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.