Oregon Public Employees Retirement Fund reduced its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 1.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,436 shares of the industrial products company’s stock after selling 178 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Parker-Hannifin were worth $2,153,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PH. Harel Insurance Investments & Financial Services Ltd. bought a new position in Parker-Hannifin during the fourth quarter valued at about $26,000. First Mercantile Trust Co. raised its holdings in Parker-Hannifin by 58.3% during the fourth quarter. First Mercantile Trust Co. now owns 190 shares of the industrial products company’s stock valued at $28,000 after buying an additional 70 shares in the last quarter. CNB Bank raised its holdings in Parker-Hannifin by 39.3% during the fourth quarter. CNB Bank now owns 273 shares of the industrial products company’s stock valued at $41,000 after buying an additional 77 shares in the last quarter. NuWave Investment Management LLC raised its holdings in Parker-Hannifin by 1,055.6% during the fourth quarter. NuWave Investment Management LLC now owns 312 shares of the industrial products company’s stock valued at $47,000 after buying an additional 285 shares in the last quarter. Finally, QCI Asset Management Inc. NY raised its holdings in Parker-Hannifin by 37.7% during the fourth quarter. QCI Asset Management Inc. NY now owns 365 shares of the industrial products company’s stock valued at $54,000 after buying an additional 100 shares in the last quarter. Institutional investors own 79.08% of the company’s stock.

In other news, Director Candy M. Obourn sold 926 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $162.18, for a total value of $150,178.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.12% of the company’s stock.

PH traded down $0.22 during midday trading on Friday, reaching $162.09. 717,742 shares of the company’s stock were exchanged, compared to its average volume of 893,691. The stock has a market cap of $21.45 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 1.52 and a beta of 1.46. The company has a quick ratio of 1.01, a current ratio of 1.52 and a debt-to-equity ratio of 0.74. Parker-Hannifin Corp has a one year low of $140.82 and a one year high of $193.19.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 31st. The industrial products company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.10. Parker-Hannifin had a net margin of 9.69% and a return on equity of 25.82%. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter last year, the company earned $2.15 earnings per share. Equities research analysts expect that Parker-Hannifin Corp will post 11.65 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 8th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.17%.

PH has been the topic of several recent research reports. Barclays cut their target price on Parker-Hannifin from $180.00 to $173.00 and set an “overweight” rating on the stock in a report on Monday, January 7th. Robert W. Baird set a $180.00 target price on Parker-Hannifin and gave the company a “buy” rating in a report on Saturday, February 2nd. ValuEngine upgraded Parker-Hannifin from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. Stifel Nicolaus lowered Parker-Hannifin from a “buy” rating to a “hold” rating and cut their target price for the company from $181.00 to $171.00 in a report on Friday, February 1st. Finally, Morgan Stanley cut their target price on Parker-Hannifin from $187.00 to $179.00 and set a “hold” rating on the stock in a report on Monday, November 5th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $181.63.

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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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

Further Reading: How Do Mutual Funds Work?

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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