Advisors Asset Management Inc. Purchases 3,499 Shares of Parker-Hannifin Co. (NYSE:PH)

Advisors Asset Management Inc. grew its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 45.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,232 shares of the industrial products company's stock after purchasing an additional 3,499 shares during the period. Advisors Asset Management Inc.'s holdings in Parker-Hannifin were worth $7,144,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. grew its position in Parker-Hannifin by 39.2% in the third 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 during the last quarter. Howard Capital Management Group LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at approximately $23,390,000. SG Americas Securities LLC increased its position in Parker-Hannifin by 752.5% during the 4th 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 in the last quarter. Columbus Macro LLC increased its position in Parker-Hannifin by 485.2% during the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock worth $6,838,000 after purchasing an additional 8,914 shares in the last quarter. Finally, Congress Asset Management Co. boosted its position in Parker-Hannifin by 15.5% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

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Parker-Hannifin Trading Down 0.3 %

Parker-Hannifin stock traded down $1.93 during trading hours on Friday, reaching $622.79. 813,148 shares of the company's stock were exchanged, compared to its average volume of 641,889. The firm has a market capitalization of $80.17 billion, a PE ratio of 25.78, a PEG ratio of 2.85 and a beta of 1.50. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm's 50 day simple moving average is $660.60 and its 200 day simple moving average is $652.66. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44.

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

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors 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 dividend on an annualized basis and a dividend yield of 1.05%. Parker-Hannifin's payout ratio is presently 26.99%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a report on Friday, December 6th. StockNews.com cut Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday. Barclays dropped their target price 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. Stifel Nicolaus boosted their price target on Parker-Hannifin from $689.00 to $691.00 and gave the stock a "hold" rating in a report on Friday, January 31st. Finally, Wolfe Research upgraded shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price objective for the company in a report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price 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.