American Century Companies Inc. Decreases Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

American Century Companies Inc. lowered its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 19.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 248,161 shares of the industrial products company's stock after selling 61,527 shares during the quarter. American Century Companies Inc. owned 0.19% of Parker-Hannifin worth $157,838,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PH. Franklin Resources Inc. raised its stake in Parker-Hannifin by 39.2% during the third 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 bought a new stake in Parker-Hannifin during the fourth quarter worth about $23,390,000. SG Americas Securities LLC increased its holdings 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 buying an additional 21,521 shares in the last quarter. Columbus Macro LLC raised its stake in shares of 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 acquiring an additional 8,914 shares during the last quarter. Finally, Congress Asset Management Co. boosted 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 worth $121,292,000 after acquiring 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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Wall Street Analyst Weigh In

PH has been the subject of a number of research reports. KeyCorp lifted their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Evercore ISI lifted their target price 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. Wolfe Research raised Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price target on the stock in a research note on Thursday, December 12th. UBS Group reduced their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Finally, Stifel Nicolaus upped their price objective 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. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $736.65.

Parker-Hannifin Stock Performance

PH stock traded down $10.75 during mid-day trading on Thursday, hitting $626.76. The company had a trading volume of 628,193 shares, compared to its average volume of 646,687. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The firm has a market cap of $80.68 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The stock's fifty day moving average price is $660.41 and its two-hundred day moving average price is $654.11.

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

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Friday, February 7th. Parker-Hannifin's payout ratio is 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.