Flputnam Investment Management Co. Has $4.83 Million Position in Parker-Hannifin Co. (NYSE:PH)

Flputnam Investment Management Co. decreased its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 38.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,586 shares of the industrial products company's stock after selling 4,835 shares during the quarter. Flputnam Investment Management Co.'s holdings in Parker-Hannifin were worth $4,825,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC increased its position in shares of Parker-Hannifin by 116,370.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock valued at $725,229,000 after buying an additional 1,139,265 shares in the last quarter. State Street Corp increased its holdings in shares of Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock worth $3,918,696,000 after acquiring an additional 753,143 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock valued at $1,249,645,000 after purchasing an additional 564,365 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at approximately $226,570,000. Finally, Mizuho Securities USA LLC boosted its holdings in shares of Parker-Hannifin by 3,566.4% in the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company's stock valued at $229,541,000 after buying an additional 353,393 shares during the period. Institutional investors own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PH. Barclays cut their price objective on shares of Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. UBS Group cut their price target on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Jefferies Financial Group increased their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a report on Friday, December 6th. KeyCorp boosted their target price on Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, Wolfe Research raised shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price target for the company in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and an average price target of $739.06.

Parker-Hannifin Stock Performance

Parker-Hannifin stock traded up $15.96 during midday trading on Wednesday, reaching $640.86. 1,240,111 shares of the company's stock were exchanged, compared to its average volume of 624,640. The stock's 50-day simple moving average is $665.45 and its 200 day simple moving average is $650.27. The firm has a market cap of $82.49 billion, a price-to-earnings ratio of 26.53, a P/E/G ratio of 2.85 and a beta of 1.45. 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 52 week low of $492.71 and a 52 week high of $718.44.

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, analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.02%. Parker-Hannifin's dividend payout ratio (DPR) is presently 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.