Public Employees Retirement Association of Colorado Sells 575 Shares of Parker-Hannifin Co. (NYSE:PH)

Public Employees Retirement Association of Colorado trimmed its position in shares of Parker-Hannifin Co. (NYSE:PH) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,915 shares of the industrial products company’s stock after selling 575 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Parker-Hannifin were worth $9,062,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Parker-Hannifin by 1.0% during the first quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock valued at $5,872,694,000 after acquiring an additional 105,475 shares during the period. Boston Partners grew its stake in shares of Parker-Hannifin by 4.1% in the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock valued at $617,878,000 after purchasing an additional 43,535 shares during the period. AMF Tjanstepension AB grew its stake in shares of Parker-Hannifin by 23.0% in the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after purchasing an additional 141,862 shares during the period. Baird Financial Group Inc. grew its stake in shares of Parker-Hannifin by 3.7% in the 4th quarter. Baird Financial Group Inc. now owns 694,970 shares of the industrial products company’s stock valued at $320,173,000 after purchasing an additional 25,060 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Parker-Hannifin by 18.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 652,539 shares of the industrial products company’s stock valued at $330,061,000 after purchasing an additional 99,959 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PH shares. Wells Fargo & Company upped their price objective on Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Barclays lowered their price objective on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft upped their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their price target for the stock from $550.00 to $650.00 in a research report on Tuesday, May 28th. Finally, Stifel Nicolaus decreased their price target on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $624.43.

Insider Activity

In other news, VP Berend Bracht sold 850 shares of the stock in a transaction on 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. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the sale, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Down 0.4 %

NYSE:PH opened at $623.77 on Friday. The stock’s fifty day moving average price is $571.23 and its two-hundred day moving average price is $547.78. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $627.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. The company has a market cap of $80.18 billion, a price-to-earnings ratio of 29.40, a P/E/G ratio of 2.42 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, beating analysts’ consensus estimates of $6.22 by $0.55. The company had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.08 EPS. On average, analysts anticipate that Parker-Hannifin Co. will post 26.63 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 30.73%.

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.