New Mexico Educational Retirement Board Decreases Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

New Mexico Educational Retirement Board lowered its position in Parker-Hannifin Co. (NYSE:PH) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,110 shares of the industrial products company’s stock after selling 200 shares during the period. New Mexico Educational Retirement Board’s holdings in Parker-Hannifin were worth $3,886,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. West Branch Capital LLC purchased a new stake in shares of Parker-Hannifin during the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC raised its stake in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after buying an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new stake in Parker-Hannifin in the fourth quarter worth about $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin during the third quarter valued at about $39,000. Finally, Hager Investment Management Services LLC acquired a new stake in Parker-Hannifin in the 4th quarter worth approximately $44,000. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PH shares. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. UBS Group lowered their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Argus increased their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company lifted their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, KeyCorp increased their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $729.18.

Parker-Hannifin Stock Up 0.9 %

Parker-Hannifin stock opened at $700.13 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The stock has a market capitalization of $90.12 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45. The business has a 50 day simple moving average of $664.39 and a 200-day simple moving average of $638.17. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. On average, analysts anticipate that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

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 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.