Joseph Group Capital Management Sells 496 Shares of Parker-Hannifin Co. (NYSE:PH)

Joseph Group Capital Management decreased its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,446 shares of the industrial products company's stock after selling 496 shares during the period. Parker-Hannifin accounts for approximately 1.6% of Joseph Group Capital Management's portfolio, making the stock its 20th biggest position. Joseph Group Capital Management's holdings in Parker-Hannifin were worth $4,100,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PH. Strategy Asset Managers LLC boosted its holdings in Parker-Hannifin by 6.6% in the 4th quarter. Strategy Asset Managers LLC now owns 599 shares of the industrial products company's stock valued at $381,000 after purchasing an additional 37 shares during the period. Allstate Corp acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at about $2,420,000. Brown Brothers Harriman & Co. lifted its stake in shares of Parker-Hannifin by 10.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,646 shares of the industrial products company's stock valued at $1,047,000 after buying an additional 155 shares during the period. Level Four Advisory Services LLC grew its position in Parker-Hannifin by 6.2% during the fourth quarter. Level Four Advisory Services LLC now owns 1,086 shares of the industrial products company's stock worth $691,000 after buying an additional 63 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in Parker-Hannifin by 1.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 4,349 shares of the industrial products company's stock valued at $2,766,000 after acquiring an additional 51 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

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Analyst Ratings Changes

Several brokerages have recently weighed in on PH. Evercore ISI lifted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Citigroup assumed coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They issued a "buy" rating and a $795.00 price objective for the company. Wells Fargo & Company increased their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Jefferies Financial Group raised their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a report on Friday, December 6th. Finally, Barclays reduced their price objective on Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $736.65.

Parker-Hannifin Stock Down 9.4 %

Shares of PH traded down $59.42 on Thursday, hitting $569.56. The company's stock had a trading volume of 892,869 shares, compared to its average volume of 679,424. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $73.31 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 2.85 and a beta of 1.50. The firm's fifty day moving average price is $654.89 and its 200-day moving average price is $655.17. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data 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%. On average, equities research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Friday, February 7th. Parker-Hannifin's payout ratio is 26.99%.

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.