Fmr LLC Sells 590,440 Shares of Parker-Hannifin Co. (NYSE:PH)

FMR LLC decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,525,817 shares of the industrial products company's stock after selling 590,440 shares during the quarter. FMR LLC owned 2.74% of Parker-Hannifin worth $2,242,525,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of PH. Franklin Resources Inc. increased its stake in shares of Parker-Hannifin by 39.2% in the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock worth $415,409,000 after acquiring an additional 181,859 shares during the last quarter. Howard Capital Management Group LLC acquired a new position in Parker-Hannifin in the 4th quarter worth about $23,390,000. SG Americas Securities LLC raised its stake in shares of Parker-Hannifin by 752.5% during the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock worth $15,507,000 after purchasing an additional 21,521 shares in the last quarter. Columbus Macro LLC lifted its holdings in shares of Parker-Hannifin by 485.2% during the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock valued at $6,838,000 after buying an additional 8,914 shares during the last quarter. Finally, Congress Asset Management Co. lifted its holdings in shares of Parker-Hannifin by 15.5% during the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock valued at $121,292,000 after buying an additional 25,605 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

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Parker-Hannifin Trading Up 0.8 %

PH stock traded up $4.60 during midday trading on Friday, reaching $564.78. The stock had a trading volume of 471,482 shares, compared to its average volume of 707,650. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The firm has a market cap of $72.70 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 2.85 and a beta of 1.39. The business has a fifty day simple moving average of $633.78 and a two-hundred day simple moving average of $651.30.

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

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.15%. The ex-dividend date was Friday, February 7th. Parker-Hannifin's payout ratio is 26.99%.

Analysts Set New Price Targets

PH has been the topic of a number of research reports. UBS Group dropped their price objective on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Evercore ISI raised their price target 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. Barclays reduced their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research note on Thursday. KeyCorp lowered their target price on shares of Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, StockNews.com cut Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average 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.