Parker-Hannifin Co. (NYSE:PH) Shares Sold by Fmr LLC

Fmr LLC lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 14.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,525,817 shares of the industrial products company’s stock after selling 590,440 shares during the quarter. Fmr LLC’s holdings in Parker-Hannifin were worth $2,242,525,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. IHT Wealth Management LLC boosted its position in shares of Parker-Hannifin by 18.6% during the 3rd quarter. IHT Wealth Management LLC now owns 1,705 shares of the industrial products company’s stock valued at $1,077,000 after acquiring an additional 267 shares during the last quarter. Quantinno Capital Management LP raised its stake in Parker-Hannifin by 34.3% during the third quarter. Quantinno Capital Management LP now owns 7,979 shares of the industrial products company’s stock worth $5,042,000 after purchasing an additional 2,039 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in Parker-Hannifin by 21.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 33,148 shares of the industrial products company’s stock valued at $19,936,000 after purchasing an additional 5,748 shares during the last quarter. Insigneo Advisory Services LLC grew its stake in shares of Parker-Hannifin by 10.4% in the 3rd quarter. Insigneo Advisory Services LLC now owns 1,562 shares of the industrial products company’s stock valued at $987,000 after buying an additional 147 shares during the period. Finally, EP Wealth Advisors LLC increased its holdings in shares of Parker-Hannifin by 25.7% during the 3rd quarter. EP Wealth Advisors LLC now owns 3,432 shares of the industrial products company’s stock worth $2,168,000 after buying an additional 701 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. UBS Group decreased their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Wells Fargo & Company increased their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Barclays reduced their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Wolfe Research lowered shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday. Finally, Evercore ISI boosted their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Trading Down 7.1 %

PH opened at $517.00 on Friday. The business has a fifty day moving average price of $649.18 and a 200 day moving average price of $654.27. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The stock has a market capitalization of $66.55 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. Sell-side analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.26%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 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.