Alliancebernstein L.P. Cuts Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Alliancebernstein L.P. cut its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 30.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,036 shares of the industrial products company's stock after selling 142,194 shares during the period. Alliancebernstein L.P. owned about 0.25% of Parker-Hannifin worth $204,189,000 as of its most recent SEC filing.

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

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Analyst Ratings Changes

Several research analysts have weighed in on the company. UBS Group lowered their target price 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. Barclays decreased their price target on Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Citigroup assumed coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a "buy" rating and a $795.00 price target for the company. Evercore ISI boosted their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $736.65.

Parker-Hannifin Price Performance

Shares of PH traded down $72.70 during trading hours on Thursday, reaching $556.28. 1,788,796 shares of the company traded hands, compared to its average volume of 682,888. The stock has a market capitalization of $71.60 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The stock has a fifty day simple moving average of $654.89 and a 200 day simple moving average of $655.17. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

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

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.17%. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.99%.

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.