State of New Jersey Common Pension Fund D Boosts Stake in Parker-Hannifin Corporation $PH

State of New Jersey Common Pension Fund D lifted its holdings in Parker-Hannifin Corporation (NYSE:PH) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,672 shares of the industrial products company’s stock after purchasing an additional 2,007 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Parker-Hannifin were worth $33,868,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Berkshire Asset Management LLC PA grew its holdings in Parker-Hannifin by 1.1% in the third quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company’s stock valued at $916,000 after purchasing an additional 13 shares during the period. Fidelis Capital Partners LLC grew its stake in Parker-Hannifin by 1.3% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock valued at $747,000 after acquiring an additional 14 shares during the period. High Net Worth Advisory Group LLC grew its stake in Parker-Hannifin by 0.3% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock valued at $3,559,000 after acquiring an additional 14 shares during the period. Meadow Creek Wealth Advisors LLC increased its holdings in Parker-Hannifin by 3.6% in the 2nd quarter. Meadow Creek Wealth Advisors LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after acquiring an additional 15 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its position in Parker-Hannifin by 0.8% during the second quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock worth $1,280,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 1.9%

Shares of NYSE:PH opened at $1,001.30 on Monday. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,012.49. The stock has a market cap of $126.38 billion, a P/E ratio of 36.52, a PEG ratio of 3.23 and a beta of 1.25. The business has a fifty day moving average of $920.62 and a two-hundred day moving average of $825.21. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the previous year, the company posted $6.53 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. On average, research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be paid a $1.80 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. Parker-Hannifin’s dividend payout ratio is 26.26%.

Analyst Upgrades and Downgrades

PH has been the topic of several research analyst reports. KeyCorp reiterated an “overweight” rating and issued a $1,100.00 target price on shares of Parker-Hannifin in a research report on Friday, January 30th. JPMorgan Chase & Co. lifted their price objective on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $990.47.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 1,457 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total value of $1,379,021.36. Following the transaction, the vice president directly owned 2,580 shares in the company, valued at approximately $2,441,918.40. This represents a 36.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the sale, the vice president directly owned 1,000 shares of the company’s stock, valued at approximately $949,940. This trade represents a 36.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 12,551 shares of company stock worth $12,117,502. Insiders own 0.32% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.