Employees Retirement System of Texas Has $47.98 Million Stake in Parker-Hannifin Co. (NYSE:PH)

Employees Retirement System of Texas increased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 75.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 123,000 shares of the industrial products company’s stock after buying an additional 53,000 shares during the quarter. Employees Retirement System of Texas owned 0.10% of Parker-Hannifin worth $47,975,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Fiduciary Alliance LLC acquired a new position in shares of Parker-Hannifin during the 2nd quarter worth about $34,000. Arcadia Investment Management Corp MI lifted its holdings in Parker-Hannifin by 233.3% during the 1st quarter. Arcadia Investment Management Corp MI now owns 100 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 70 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new position in Parker-Hannifin during the fourth quarter worth $41,000. Money Concepts Capital Corp raised its position in shares of Parker-Hannifin by 186.3% in the fourth quarter. Money Concepts Capital Corp now owns 146 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 95 shares during the period. Finally, Cullen Frost Bankers Inc. lifted its stake in shares of Parker-Hannifin by 174.5% during the 1st quarter. Cullen Frost Bankers Inc. now owns 151 shares of the industrial products company’s stock worth $51,000 after buying an additional 96 shares during the last quarter. Institutional investors own 82.25% of the company’s stock.

Insider Buying and Selling

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,660 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $409.91, for a total value of $680,450.60. Following the completion of the sale, the director now directly owns 5,487 shares in the company, valued at $2,249,176.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,660 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $409.91, for a total transaction of $680,450.60. Following the completion of the transaction, the director now owns 5,487 shares of the company’s stock, valued at $2,249,176.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Todd M. Leombruno sold 5,002 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $416.11, for a total value of $2,081,382.22. Following the completion of the sale, the chief financial officer now owns 11,656 shares in the company, valued at approximately $4,850,178.16. The disclosure for this sale can be found here. 1.03% of the stock is owned by insiders.

Analyst Ratings Changes

PH has been the subject of a number of analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $470.00 price target on shares of Parker-Hannifin in a research note on Wednesday, October 11th. KeyCorp raised their target price on Parker-Hannifin from $450.00 to $460.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Wells Fargo & Company lowered their price target on Parker-Hannifin from $465.00 to $425.00 in a report on Monday, October 9th. Morgan Stanley lifted their target price on Parker-Hannifin from $408.00 to $448.00 and gave the company an “equal weight” rating in a research report on Monday, August 7th. Finally, Argus increased their target price on shares of Parker-Hannifin from $390.00 to $460.00 in a report on Friday, August 4th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $450.71.

Parker-Hannifin Price Performance

PH traded up $2.65 on Tuesday, reaching $434.18. The company had a trading volume of 102,103 shares, compared to its average volume of 805,516. Parker-Hannifin Co. has a 52-week low of $281.19 and a 52-week high of $435.33. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.50 and a current ratio of 0.89. The company has a market cap of $55.78 billion, a price-to-earnings ratio of 23.96, a P/E/G ratio of 1.56 and a beta of 1.49. The business has a 50 day simple moving average of $394.29 and a 200 day simple moving average of $384.94.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $5.96 earnings per share for the quarter, topping analysts’ consensus estimates of $5.33 by $0.63. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.88 billion. Parker-Hannifin had a net margin of 11.92% and a return on equity of 29.56%. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.74 EPS. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 23.14 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $5.92 annualized dividend and a yield of 1.36%. Parker-Hannifin’s payout ratio is currently 32.87%.

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.