Envestnet Asset Management Inc. Sells 21,748 Shares of Parker-Hannifin Co. (NYSE:PH)

Envestnet Asset Management Inc. lowered its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 3.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 676,402 shares of the industrial products company's stock after selling 21,748 shares during the quarter. Envestnet Asset Management Inc. owned about 0.53% of Parker-Hannifin worth $430,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PH. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin during the 4th quarter worth $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin in the fourth quarter worth about $30,000. Prestige Wealth Management Group LLC grew its position in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock valued at $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin during the 4th quarter worth about $35,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $40,000. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Up 0.5 %

PH traded up $2.53 on Friday, reaching $562.71. 403,358 shares of the company traded hands, compared to its average volume of 707,446. The company has a market cap of $72.43 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 2.85 and a beta of 1.39. 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's 50 day moving average price is $633.78 and its 200-day moving average price is $651.30. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44.

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

Parker-Hannifin Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently commented on PH shares. Barclays dropped their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a report on Thursday. Stifel Nicolaus upped their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a report on Friday, January 31st. Evercore ISI lifted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. KeyCorp cut their price target on shares of Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating for the company in a report on Tuesday. Finally, Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus target price of $720.47.

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.