Sit Investment Associates Inc. Has $7.21 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Sit Investment Associates Inc. decreased its position in Parker-Hannifin Co. (NYSE:PH) by 26.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 11,339 shares of the industrial products company’s stock after selling 4,020 shares during the period. Sit Investment Associates Inc.’s holdings in Parker-Hannifin were worth $7,212,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. lifted its stake in Parker-Hannifin by 39.2% in the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock valued at $415,409,000 after acquiring an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC bought a new stake in shares of Parker-Hannifin in the fourth quarter worth $23,390,000. SG Americas Securities LLC boosted its holdings in Parker-Hannifin by 752.5% during the fourth quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock worth $15,507,000 after purchasing an additional 21,521 shares during the last quarter. Columbus Macro LLC grew its position in Parker-Hannifin by 485.2% in the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock valued at $6,838,000 after purchasing an additional 8,914 shares in the last quarter. Finally, Congress Asset Management Co. increased its stake in Parker-Hannifin by 15.5% in the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock valued at $121,292,000 after buying an additional 25,605 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Down 7.1 %

Shares of PH opened at $517.00 on Friday. The firm has a market cap of $66.55 billion, a P/E ratio of 21.40, a price-to-earnings-growth 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. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The firm’s 50-day simple moving average is $649.18 and its 200 day simple moving average is $654.27.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating 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%. On average, analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued 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 dividend payout ratio is currently 26.99%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PH. Stifel Nicolaus raised their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. KeyCorp raised their price target on 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 objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. StockNews.com cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Finally, Evercore ISI upped their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $736.65.

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.