Clearbridge Investments LLC grew its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 213,207 shares of the industrial products company's stock after buying an additional 3,194 shares during the quarter. Clearbridge Investments LLC owned approximately 0.17% of Parker-Hannifin worth $135,606,000 as of its most recent SEC filing.
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A number of other large investors also recently modified their holdings of PH. Norges Bank bought a new stake in Parker-Hannifin during the 4th quarter worth approximately $1,106,132,000. Proficio Capital Partners LLC grew its stake in shares of Parker-Hannifin by 116,370.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock worth $725,229,000 after purchasing an additional 1,139,265 shares during the last quarter. State Street Corp increased its holdings in Parker-Hannifin by 13.8% in the third 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 period. Wellington Management Group LLP raised its position in Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock worth $1,249,645,000 after purchasing an additional 564,365 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in Parker-Hannifin during the 3rd quarter worth about $226,570,000. 82.44% of the stock is currently owned by institutional investors.
Parker-Hannifin Stock Down 7.1 %
PH traded down $39.70 during midday trading on Friday, reaching $517.00. 2,254,783 shares of the company were exchanged, compared to its average volume of 689,912. The company has a market cap of $66.55 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The company's fifty day moving average price is $649.18 and its 200 day moving average price is $653.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.
Parker-Hannifin Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Friday, February 7th. Parker-Hannifin's payout ratio is currently 26.99%.
Analyst Upgrades and Downgrades
PH has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Jefferies Financial Group boosted their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Citigroup initiated coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a "buy" rating and a $795.00 target price on the stock. Stifel Nicolaus lifted their target price on Parker-Hannifin from $689.00 to $691.00 and gave the stock a "hold" rating in a report on Friday, January 31st. Finally, StockNews.com downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus target price of $736.65.
Read Our Latest Research Report on Parker-Hannifin
About Parker-Hannifin
(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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