APG Asset Management N.V. Buys 72,751 Shares of Parker-Hannifin Co. (NYSE:PH)

APG Asset Management N.V. raised its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 427.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 89,752 shares of the industrial products company's stock after purchasing an additional 72,751 shares during the quarter. APG Asset Management N.V. owned 0.07% of Parker-Hannifin worth $55,128,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Applied Finance Capital Management LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth $1,067,000. FIL Ltd boosted its holdings in Parker-Hannifin by 36.3% in the 4th quarter. FIL Ltd now owns 132,781 shares of the industrial products company's stock worth $84,453,000 after buying an additional 35,344 shares during the period. Invesco Ltd. raised its holdings in Parker-Hannifin by 8.6% during the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company's stock valued at $1,591,810,000 after acquiring an additional 198,292 shares during the period. Trek Financial LLC bought a new stake in Parker-Hannifin during the fourth quarter valued at about $3,207,000. Finally, Benchmark Investment Advisors LLC boosted its stake in shares of Parker-Hannifin by 4.3% in the fourth quarter. Benchmark Investment Advisors LLC now owns 3,356 shares of the industrial products company's stock worth $2,135,000 after acquiring an additional 138 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 0.4 %

NYSE PH traded down $2.39 on Monday, hitting $562.98. 192,266 shares of the stock were exchanged, compared to its average volume of 861,127. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. The firm has a market capitalization of $72.47 billion, a P/E ratio of 23.30, a P/E/G ratio of 2.85 and a beta of 1.39. The stock has a fifty day moving average price of $631.27 and a two-hundred day moving average price of $651.01.

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

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's dividend payout ratio is currently 26.99%.

Analysts Set New Price Targets

PH has been the topic of several recent analyst reports. Barclays decreased their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research note on Thursday. KeyCorp reduced their price objective on shares of Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Citigroup began coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a "buy" rating and a $795.00 price target on the stock. Finally, Evercore ISI raised their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $713.00.

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.