Groupama Asset Managment Grows Stock Position in Parker-Hannifin Co. (NYSE:PH)

Groupama Asset Managment lifted its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 7.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,595 shares of the industrial products company's stock after buying an additional 9,755 shares during the quarter. Parker-Hannifin makes up about 0.7% of Groupama Asset Managment's holdings, making the stock its 27th biggest holding. Groupama Asset Managment owned 0.11% of Parker-Hannifin worth $90,807,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in Parker-Hannifin during the fourth quarter worth approximately $1,106,132,000. Proficio Capital Partners LLC boosted 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 worth $725,229,000 after purchasing an additional 1,139,265 shares in the last quarter. State Street Corp increased its position in shares of Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock valued at $3,918,696,000 after acquiring an additional 753,143 shares during the period. Wellington Management Group LLP increased its stake in shares of 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 acquiring an additional 564,365 shares during the period. Finally, World Investment Advisors LLC purchased a new stake in Parker-Hannifin in the 3rd quarter worth approximately $226,570,000. 82.44% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

PH has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. KeyCorp increased their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a report on Friday, January 31st. UBS Group cut their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a report on Friday, January 31st. StockNews.com downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Finally, Jefferies Financial Group upped their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $736.65.

Parker-Hannifin Stock Performance

Shares of PH stock traded down $72.70 during midday trading on Thursday, hitting $556.28. 1,788,796 shares of the company were exchanged, compared to its average volume of 682,888. The firm's 50 day moving average price is $654.89 and its two-hundred day moving average price is $655.17. The firm has a market capitalization of $71.60 billion, a P/E ratio of 23.02, a PEG ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. 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 (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 (EPS) 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%. As a group, equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend 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 currently 26.99%.

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.