Parker-Hannifin Co. (NYSE:PH) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. lifted its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 41.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 911,075 shares of the industrial products company's stock after buying an additional 265,559 shares during the quarter. Franklin Resources Inc. owned approximately 0.71% of Parker-Hannifin worth $579,471,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in Parker-Hannifin in the 4th quarter valued at about $1,106,132,000. Proficio Capital Partners LLC boosted its holdings in shares of Parker-Hannifin by 116,370.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock valued at $725,229,000 after purchasing an additional 1,139,265 shares during the period. State Street Corp grew its stake in 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 purchasing an additional 753,143 shares in the last quarter. Wellington Management Group LLP grew its stake in Parker-Hannifin by 39.9% in the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock worth $1,249,645,000 after purchasing an additional 564,365 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new position in Parker-Hannifin during the 3rd quarter worth $226,570,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Down 11.6 %

Shares of PH stock traded down $72.70 during trading hours on Thursday, reaching $556.28. 1,788,796 shares of the company's stock were exchanged, compared to its average volume of 682,888. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The stock has a market cap of $71.60 billion, a PE ratio of 23.02, a PEG ratio of 2.85 and a beta of 1.50. The stock's fifty day moving average price is $654.89 and its two-hundred day moving average price is $655.17.

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Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results 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%. Research analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced 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 was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.17%. Parker-Hannifin's dividend payout ratio (DPR) is 26.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PH shares. Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday. Jefferies Financial Group raised their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Citigroup initiated coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They issued a "buy" rating and a $795.00 price target for the company. StockNews.com lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Finally, KeyCorp upped their target price on Parker-Hannifin from $775.00 to $790.00 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $736.65.

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.