Parker-Hannifin Co. (NYSE:PH) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 10.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 107,588 shares of the industrial products company’s stock after selling 13,027 shares during the period. New York State Common Retirement Fund’s holdings in Parker-Hannifin were worth $49,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Sapient Capital LLC purchased a new position in Parker-Hannifin during the fourth quarter worth approximately $1,392,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $3,305,000. 17 Capital Partners LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at $2,271,000. HMS Capital Management LLC purchased a new stake in Parker-Hannifin in the 4th quarter worth $1,225,000. Finally, RFG Advisory LLC lifted its holdings in Parker-Hannifin by 417.3% during the fourth quarter. RFG Advisory LLC now owns 3,207 shares of the industrial products company’s stock valued at $1,477,000 after purchasing an additional 2,587 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Andrew D. Ross sold 3,904 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $6,693,299.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. Insiders sold a total of 12,079 shares of company stock valued at $6,099,566 over the last quarter. 1.03% of the stock is owned by insiders.

Parker-Hannifin Trading Down 0.7 %

Shares of PH opened at $546.35 on Thursday. Parker-Hannifin Co. has a 12-month low of $309.89 and a 12-month high of $570.15. The firm has a market capitalization of $70.16 billion, a P/E ratio of 27.05, a P/E/G ratio of 2.01 and a beta of 1.52. The firm has a 50-day moving average price of $542.05 and a 200 day moving average price of $476.11. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on PH. Evercore ISI boosted their target price on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their target price for the company from $300.00 to $500.00 in a report on Friday, March 1st. Stifel Nicolaus lifted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. 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. Finally, Barclays raised 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. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $515.38.

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.