Commonwealth Equity Services LLC Raises Stock Position in Parker-Hannifin Co. (NYSE:PH)

Commonwealth Equity Services LLC increased its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,038 shares of the industrial products company's stock after purchasing an additional 3,913 shares during the period. Commonwealth Equity Services LLC's holdings in Parker-Hannifin were worth $28,009,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. increased its position in shares of Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock valued at $415,409,000 after acquiring an additional 181,859 shares during the last quarter. Howard Capital Management Group LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter valued at about $23,390,000. SG Americas Securities LLC increased its position 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 valued at $15,507,000 after acquiring an additional 21,521 shares during the last quarter. Columbus Macro LLC increased 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 valued at $6,838,000 after acquiring an additional 8,914 shares during the last quarter. Finally, Congress Asset Management Co. increased its position in shares of Parker-Hannifin by 15.5% during the fourth 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 last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of equities research analysts have weighed in on PH shares. Barclays dropped their price target on shares of Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Citigroup initiated coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They set a "buy" rating and a $795.00 price target for the company. StockNews.com upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, February 8th. Evercore ISI lifted 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, February 19th. Finally, Jefferies Financial Group lifted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus target price of $736.65.

Parker-Hannifin Stock Up 2.2 %

Parker-Hannifin stock traded up $13.53 during trading on Wednesday, reaching $629.93. The stock had a trading volume of 814,261 shares, compared to its average volume of 638,744. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The business has a 50 day moving average price of $661.29 and a 200 day moving average price of $652.32. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market cap of $81.08 billion, a PE ratio of 26.07, a P/E/G ratio of 2.85 and a beta of 1.50.

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

Parker-Hannifin Announces Dividend

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