WIM INVESTMENT MANAGEMENT Ltd Takes Position in Parker-Hannifin Co. (NYSE:PH)

WIM INVESTMENT MANAGEMENT Ltd bought a new position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,750 shares of the industrial products company's stock, valued at approximately $3,657,000. Parker-Hannifin accounts for 1.3% of WIM INVESTMENT MANAGEMENT Ltd's investment portfolio, making the stock its 12th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PH. Proficio Capital Partners LLC lifted its position in shares of Parker-Hannifin by 116,370.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock worth $725,229,000 after purchasing an additional 1,139,265 shares during the last quarter. State Street Corp increased its position in Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock worth $3,918,696,000 after buying an additional 753,143 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock worth $1,249,645,000 after buying an additional 564,365 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of Parker-Hannifin in the third quarter valued at approximately $226,570,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Parker-Hannifin by 176.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company's stock worth $278,661,000 after acquiring an additional 279,480 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

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Analysts Set New Price Targets

PH has been the subject of several research analyst reports. UBS Group cut their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Citigroup initiated coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They issued a "buy" rating and a $795.00 target price for the company. Evercore ISI lifted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Stifel Nicolaus boosted their price target on Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a research note on Friday, January 31st. Finally, Barclays reduced their price objective on Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $736.65.

Parker-Hannifin Price Performance

PH stock traded down $1.93 during trading on Friday, hitting $622.79. 813,148 shares of the stock traded hands, compared to its average volume of 641,889. The stock has a market cap of $80.17 billion, a price-to-earnings ratio of 25.78, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a one year low of $492.71 and a one year 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 50 day simple moving average of $660.60 and a 200 day simple moving average of $652.66.

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

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.05%. Parker-Hannifin's dividend payout ratio (DPR) is currently 26.99%.

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.