Elo Mutual Pension Insurance Co Sells 474 Shares of Parker-Hannifin Co. (NYSE:PH)

Elo Mutual Pension Insurance Co reduced its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,742 shares of the industrial products company’s stock after selling 474 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Parker-Hannifin were worth $7,468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Whipplewood Advisors LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter worth $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin during the 4th quarter worth $30,000. Prestige Wealth Management Group LLC boosted its holdings in 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 period. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $35,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 1.7 %

Shares of NYSE:PH opened at $626.76 on Friday. The company has a market capitalization of $80.68 billion, a PE ratio of 25.94, a P/E/G ratio of 2.85 and a beta of 1.50. 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 company’s fifty day moving average is $659.79 and its 200-day moving average is $653.92. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Equities research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Analyst Ratings Changes

A number of analysts have issued reports on PH shares. Citigroup assumed coverage on Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 target price on the stock. 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. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a research note on Thursday, December 12th. Jefferies Financial Group raised 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. Finally, Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

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.