Parker-Hannifin Co. (NYSE:PH) Shares Sold by Alerus Financial NA

Alerus Financial NA lowered its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 9.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,677 shares of the industrial products company's stock after selling 1,409 shares during the quarter. Alerus Financial NA's holdings in Parker-Hannifin were worth $8,699,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. grew its stake in shares of 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 buying an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at $23,390,000. SG Americas Securities LLC grew its stake in shares of 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 in the last quarter. Columbus Macro LLC increased its holdings 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 buying an additional 8,914 shares during the last quarter. Finally, Congress Asset Management Co. raised its stake 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. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

PH traded up $1.62 during trading on Tuesday, reaching $609.47. 206,712 shares of the stock were exchanged, compared to its average volume of 674,821. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The company has a market capitalization of $78.45 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The business's 50 day moving average price is $657.14 and its two-hundred day moving average price is $655.22.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data 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 net margin of 15.87% and a return on equity of 27.34%. As a group, equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed 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 of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.07%. Parker-Hannifin's dividend payout ratio (DPR) is 26.99%.

Wall Street Analyst Weigh In

PH has been the topic of a number of recent analyst reports. Wolfe Research upgraded Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price objective on the stock in a report on Thursday, December 12th. Barclays cut 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. UBS Group lowered their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a report on Friday, January 31st. Jefferies Financial Group raised their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Finally, Stifel Nicolaus boosted their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to 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.