iA Global Asset Management Inc. Decreases Holdings in Parker-Hannifin Co. (NYSE:PH)

iA Global Asset Management Inc. lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 23.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,000 shares of the industrial products company's stock after selling 4,642 shares during the period. iA Global Asset Management Inc.'s holdings in Parker-Hannifin were worth $9,540,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Empowered Funds LLC lifted its position in shares of Parker-Hannifin by 13.5% in the 3rd quarter. Empowered Funds LLC now owns 2,499 shares of the industrial products company's stock worth $1,579,000 after purchasing an additional 298 shares during the period. Thrivent Financial for Lutherans boosted its position in Parker-Hannifin by 4.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 39,887 shares of the industrial products company's stock valued at $25,201,000 after acquiring an additional 1,825 shares in the last quarter. LMR Partners LLP increased its holdings in shares of Parker-Hannifin by 13.2% in the 3rd quarter. LMR Partners LLP now owns 694 shares of the industrial products company's stock valued at $438,000 after acquiring an additional 81 shares during the period. Aviance Capital Partners LLC raised its position in shares of Parker-Hannifin by 9.7% in the 3rd quarter. Aviance Capital Partners LLC now owns 543 shares of the industrial products company's stock worth $343,000 after acquiring an additional 48 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its stake in shares of Parker-Hannifin by 13.4% during the 3rd quarter. Pathstone Holdings LLC now owns 18,551 shares of the industrial products company's stock worth $11,721,000 after purchasing an additional 2,186 shares during the last quarter. Institutional investors own 82.44% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have commented on PH shares. Jefferies Financial Group increased their price target 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. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a research note on Friday, January 31st. Wells Fargo & Company upped their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Wolfe Research raised Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price objective for the company in a research report on Thursday, December 12th. Finally, KeyCorp increased their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $736.65.

Parker-Hannifin Stock Performance

Parker-Hannifin stock traded up $21.11 during midday trading on Monday, hitting $643.21. 893,752 shares of the company were exchanged, compared to its average volume of 642,896. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The firm has a market capitalization of $82.79 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The business has a fifty day simple moving average of $660.71 and a two-hundred day simple moving average of $653.67. 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 earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. On average, sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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 $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 1.01%. Parker-Hannifin's 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.