Blue Trust Inc. reduced its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 51.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 957 shares of the industrial products company's stock after selling 1,007 shares during the quarter. Blue Trust Inc.'s holdings in Parker-Hannifin were worth $608,000 as of its most recent filing with the SEC.
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Several other hedge funds have also recently bought and sold shares of PH. State Street Corp lifted its position in Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock valued at $3,918,696,000 after purchasing an additional 753,143 shares during the last quarter. Wellington Management Group LLP lifted its position in Parker-Hannifin by 39.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock valued at $1,249,645,000 after purchasing an additional 564,365 shares during the last quarter. International Assets Investment Management LLC increased its stake in Parker-Hannifin by 64,081.5% during the 3rd quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company's stock valued at $241,279,000 after buying an additional 381,285 shares during the period. World Investment Advisors LLC acquired a new position in Parker-Hannifin during the 3rd quarter valued at about $226,570,000. Finally, Mizuho Securities USA LLC increased its stake in Parker-Hannifin by 3,566.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company's stock valued at $229,541,000 after buying an additional 353,393 shares during the period. 82.44% of the stock is currently owned by institutional investors.
Parker-Hannifin Stock Performance
PH stock opened at $700.13 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a market cap of $90.12 billion, a P/E ratio of 28.98, a P/E/G ratio of 2.84 and a beta of 1.45. The firm has a 50 day simple moving average of $664.47 and a 200 day simple moving average of $639.83. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44.
Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Research analysts anticipate that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.
Parker-Hannifin Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Friday, February 7th. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.99%.
Analyst Ratings Changes
Several equities analysts have commented on PH shares. Barclays lowered their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. StockNews.com raised shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, February 8th. UBS Group lowered their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Citigroup assumed coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They issued a "buy" rating and a $795.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $729.18.
Read Our Latest Stock Report on PH
Parker-Hannifin Profile
(Free Report)
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.
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