CIBC Asset Management Inc Acquires 895 Shares of Parker-Hannifin Co. (NYSE:PH)

CIBC Asset Management Inc lifted its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,677 shares of the industrial products company's stock after acquiring an additional 895 shares during the period. CIBC Asset Management Inc's holdings in Parker-Hannifin were worth $12,515,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PH. Prestige Wealth Management Group LLC lifted its stake in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter worth approximately $39,000. Hager Investment Management Services LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $44,000. Finally, Retirement Wealth Solutions LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at $47,000. 82.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a report on Friday, January 31st. KeyCorp boosted their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Wells Fargo & Company boosted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. StockNews.com upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, February 8th. Finally, Evercore ISI upped their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $739.06.

Parker-Hannifin Price Performance

Shares of PH traded down $28.40 during trading hours on Friday, reaching $667.06. 851,007 shares of the company's stock traded hands, compared to its average volume of 659,347. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The stock has a market cap of $85.86 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 2.87 and a beta of 1.45. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The firm's 50 day simple moving average is $665.65 and its 200-day simple moving average is $643.57.

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

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin's dividend payout ratio (DPR) is currently 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.