AustralianSuper Pty Ltd Boosts Stock Position in Parker-Hannifin Co. (NYSE:PH)

AustralianSuper Pty Ltd raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,967 shares of the industrial products company's stock after buying an additional 392 shares during the quarter. AustralianSuper Pty Ltd's holdings in Parker-Hannifin were worth $4,431,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PH. Grove Bank & Trust lifted its stake in Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company's stock worth $95,000 after purchasing an additional 16 shares during the last quarter. Moody Lynn & Lieberson LLC lifted its stake in Parker-Hannifin by 0.6% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company's stock worth $1,723,000 after purchasing an additional 16 shares during the last quarter. Everpar Advisors LLC lifted its stake in Parker-Hannifin by 1.3% during the fourth quarter. Everpar Advisors LLC now owns 1,339 shares of the industrial products company's stock worth $852,000 after purchasing an additional 17 shares during the last quarter. LVW Advisors LLC lifted its stake in Parker-Hannifin by 0.9% during the fourth quarter. LVW Advisors LLC now owns 1,969 shares of the industrial products company's stock worth $1,252,000 after purchasing an additional 17 shares during the last quarter. Finally, Tilia Fiduciary Partners Inc. lifted its stake in Parker-Hannifin by 0.7% during the fourth quarter. Tilia Fiduciary Partners Inc. now owns 2,521 shares of the industrial products company's stock worth $1,603,000 after purchasing an additional 18 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 0.9 %

PH traded up $6.02 during midday trading on Wednesday, reaching $701.48. 642,264 shares of the company's stock traded hands, compared to its average volume of 655,824. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The firm has a fifty day moving average of $665.08 and a two-hundred day moving average of $642.79. 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 stock has a market capitalization of $90.30 billion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 2.87 and a beta of 1.45.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. Parker-Hannifin's dividend payout ratio (DPR) is 26.99%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Barclays lowered their target price on Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Wells Fargo & Company boosted their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. UBS Group lowered their target price on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Finally, StockNews.com raised Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, February 8th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $739.06.

Parker-Hannifin 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.