Louisiana State Employees Retirement System Decreases Holdings in Parker-Hannifin Co. (NYSE:PH)

Louisiana State Employees Retirement System trimmed its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,200 shares of the industrial products company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Parker-Hannifin were worth $4,549,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. TD Asset Management Inc increased its stake in Parker-Hannifin by 152.1% in the 1st quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock worth $73,493,000 after purchasing an additional 79,774 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Parker-Hannifin by 8.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock worth $12,761,000 after buying an additional 1,802 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in shares of Parker-Hannifin by 261.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock worth $1,397,000 after buying an additional 1,819 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Parker-Hannifin by 54.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company’s stock worth $9,540,000 after buying an additional 6,029 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Parker-Hannifin by 16.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 42,523 shares of the industrial products company’s stock worth $23,634,000 after buying an additional 6,013 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Down 0.4 %

PH stock opened at $621.74 on Friday. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $646.60. The business has a fifty day moving average price of $611.33 and a 200-day moving average price of $562.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The stock has a market capitalization of $80.00 billion, a P/E ratio of 28.53, a P/E/G ratio of 2.55 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the previous year, the business earned $6.08 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. Equities analysts forecast that Parker-Hannifin Co. will post 26.68 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is 29.92%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the transaction, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays lifted their price target on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Robert W. Baird lifted their price target on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Wells Fargo & Company lifted their price target on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Raymond James boosted their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Finally, Mizuho boosted their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $660.57.

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.