Lafayette Investments Inc. Reduces Position in Parker-Hannifin Co. (NYSE:PH)

Lafayette Investments Inc. reduced its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 40.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,406 shares of the industrial products company's stock after selling 4,381 shares during the quarter. Lafayette Investments Inc.'s holdings in Parker-Hannifin were worth $4,074,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new position in Parker-Hannifin during the fourth quarter worth about $25,000. Millstone Evans Group LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter valued at about $30,000. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $40,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 0.3 %

NYSE:PH traded up $1.76 during trading hours on Friday, hitting $561.21. The company's stock had a trading volume of 558,227 shares, compared to its average volume of 711,311. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-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 stock has a market capitalization of $72.24 billion, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. The stock has a fifty day moving average of $621.56 and a 200-day moving average of $648.89.

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, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, equities analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced 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 1.16%. The ex-dividend date was Friday, February 7th. Parker-Hannifin's payout ratio is 26.99%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Barclays dropped their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Evercore ISI boosted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. KeyCorp lowered their target price on Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Citigroup cut their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $705.35.

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.