HighPoint Advisor Group LLC Sells 1,280 Shares of Parker-Hannifin Co. (NYSE:PH)

HighPoint Advisor Group LLC decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 18.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,722 shares of the industrial products company's stock after selling 1,280 shares during the quarter. HighPoint Advisor Group LLC's holdings in Parker-Hannifin were worth $3,843,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PH. Vanguard Group Inc. raised its holdings in Parker-Hannifin by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock valued at $6,903,962,000 after acquiring an additional 111,406 shares during the last quarter. State Street Corp lifted its holdings 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 valued at $3,918,696,000 after acquiring an additional 753,143 shares during the last quarter. Geode Capital Management LLC grew its position in Parker-Hannifin by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company's stock worth $1,623,689,000 after acquiring an additional 29,408 shares during the period. Wellington Management Group LLP increased its stake in Parker-Hannifin by 39.9% during 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 last quarter. Finally, Norges Bank purchased a new stake in Parker-Hannifin in the fourth quarter valued at $1,106,132,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group increased their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Citigroup initiated coverage on Parker-Hannifin in a research report on Friday, February 7th. They issued a "buy" rating and a $795.00 target price on the stock. StockNews.com lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Wolfe Research downgraded Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday. Finally, Barclays lowered their target price on Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $736.65.

Parker-Hannifin Trading Down 11.6 %

Shares of PH traded down $72.70 during midday trading on Thursday, hitting $556.28. The stock had a trading volume of 1,784,167 shares, compared to its average volume of 682,885. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week 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 firm has a market cap of $71.60 billion, a P/E ratio of 23.02, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The business has a 50-day simple moving average of $654.89 and a two-hundred day simple moving average of $655.17.

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

Parker-Hannifin Announces Dividend

The business 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. This represents a $6.52 annualized dividend and a yield of 1.17%. The ex-dividend date was Friday, February 7th. Parker-Hannifin's dividend payout ratio is 26.99%.

Parker-Hannifin 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.