US Bancorp DE Sells 666 Shares of Parker-Hannifin Co. (NYSE:PH)

US Bancorp DE reduced its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 0.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 76,842 shares of the industrial products company’s stock after selling 666 shares during the period. US Bancorp DE’s holdings in Parker-Hannifin were worth $48,874,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. State Street Corp boosted its position in Parker-Hannifin by 13.8% during the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after purchasing an additional 753,143 shares during the period. FMR LLC boosted its holdings in Parker-Hannifin by 7.1% in the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after buying an additional 272,531 shares during the period. Geode Capital Management LLC boosted its holdings in Parker-Hannifin by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock worth $1,623,689,000 after buying an additional 29,408 shares during the period. Wellington Management Group LLP grew its stake 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 buying an additional 564,365 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in 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 acquiring an additional 59,432 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 2.3 %

Shares of Parker-Hannifin stock opened at $670.07 on Friday. The company’s fifty day simple moving average is $666.19 and its two-hundred day simple moving average is $649.15. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The company has a market cap of $86.25 billion, a P/E ratio of 27.73, a PEG ratio of 2.85 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released 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%. Research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders 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 dividend yield of 0.97%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is presently 26.99%.

Analyst Ratings Changes

Several brokerages have commented on PH. Argus raised their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Evercore ISI increased their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. KeyCorp lifted their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Barclays decreased their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $739.06.

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.