Parker-Hannifin Co. (NYSE:PH) Shares Sold by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,042 shares of the industrial products company’s stock after selling 1,067 shares during the quarter. Parker-Hannifin comprises 0.8% of Sheaff Brock Investment Advisors LLC’s investment portfolio, making the stock its 26th biggest position. Sheaff Brock Investment Advisors LLC’s holdings in Parker-Hannifin were worth $9,567,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. State Street Corp increased its stake in shares of 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 worth $3,918,696,000 after acquiring an additional 753,143 shares during the last quarter. FMR LLC grew its holdings in shares of Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after purchasing an additional 272,531 shares during the period. Geode Capital Management LLC raised its stake in Parker-Hannifin by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock worth $1,623,689,000 after purchasing an additional 29,408 shares during the period. Wellington Management Group LLP boosted its holdings 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. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Parker-Hannifin by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock valued at $1,007,102,000 after buying an additional 59,432 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the subject of several analyst reports. UBS Group lowered their price objective 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. Jefferies Financial Group increased their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Citigroup initiated coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 price target for the company. Finally, Stifel Nicolaus upped their price objective 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. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $729.18.

Parker-Hannifin Price Performance

PH stock opened at $700.13 on Friday. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The firm has a market capitalization 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 company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The business’s 50-day moving average is $664.47 and its two-hundred day moving average is $639.22.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping 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%. 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 declared 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 of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

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.