Dynamic Technology Lab Private Ltd bought a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 939 shares of the industrial products company's stock, valued at approximately $597,000.
Several other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in Parker-Hannifin during the fourth quarter worth $1,106,132,000. Proficio Capital Partners LLC boosted its position in Parker-Hannifin by 116,370.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock worth $725,229,000 after purchasing an additional 1,139,265 shares during the period. Assenagon Asset Management S.A. grew its holdings in Parker-Hannifin by 176.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company's stock valued at $278,661,000 after purchasing an additional 279,480 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $175,739,000. Finally, Franklin Resources Inc. lifted its stake in shares of Parker-Hannifin by 41.1% in the fourth quarter. Franklin Resources Inc. now owns 911,075 shares of the industrial products company's stock worth $579,471,000 after buying an additional 265,559 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.
Parker-Hannifin Trading Up 0.8 %
NYSE:PH traded up $4.60 during mid-day trading on Friday, hitting $564.78. The company had a trading volume of 938,635 shares, compared to its average volume of 711,680. The firm has a market cap of $72.70 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.85 and a beta of 1.39. The business's fifty day moving average is $631.27 and its two-hundred day moving average is $651.01. 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 fifty-two week low of $488.45 and a fifty-two week high of $718.44.
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 (EPS) for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.
Parker-Hannifin Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.99%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on PH. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a "hold" rating in a research report on Friday, January 31st. UBS Group decreased 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. Barclays dropped their price target on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research report on Thursday. StockNews.com cut Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Finally, Citigroup initiated coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They set a "buy" rating and a $795.00 target price for the company. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $720.47.
Check Out Our Latest Stock Analysis on Parker-Hannifin
Parker-Hannifin Profile
(
Free Report)
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.
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