Great Lakes Retirement Inc. Cuts Stake in Parker-Hannifin Co. (NYSE:PH)

Great Lakes Retirement Inc. lowered its stake in Parker-Hannifin Co. (NYSE:PH) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,140 shares of the industrial products company’s stock after selling 43 shares during the period. Great Lakes Retirement Inc.’s holdings in Parker-Hannifin were worth $3,269,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. West Branch Capital LLC bought a new stake in Parker-Hannifin during the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC raised its stake in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at approximately $35,000. Northwest Investment Counselors LLC purchased a new stake in Parker-Hannifin in the third quarter worth $39,000. Finally, Hager Investment Management Services LLC bought a new position in Parker-Hannifin in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.0 %

Shares of Parker-Hannifin stock opened at $680.72 on Wednesday. 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 $87.62 billion, a PE ratio of 28.18, a P/E/G ratio of 2.84 and a beta of 1.45. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The company’s fifty day simple moving average is $665.16 and its 200-day simple moving average is $636.60.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 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%. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Analyst Upgrades and Downgrades

PH has been the topic of a number of research reports. Argus boosted their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. KeyCorp raised their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. UBS Group dropped their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Jefferies Financial Group raised their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin Company 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.