Lazard Freres Gestion S.A.S. cut its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 234,970 shares of the industrial products company's stock after selling 16,214 shares during the quarter. Parker-Hannifin comprises 3.0% of Lazard Freres Gestion S.A.S.'s portfolio, making the stock its 12th biggest position. Lazard Freres Gestion S.A.S. owned about 0.18% of Parker-Hannifin worth $149,447,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter valued at $25,000. Prestige Wealth Management Group LLC raised its position in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire acquired a new position in shares of Parker-Hannifin during the fourth quarter worth about $35,000. Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth about $40,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $44,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on PH shares. Evercore ISI upped their price target on Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Wolfe Research raised shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price target for the company in a report on Thursday, December 12th. Wells Fargo & Company boosted their price objective on shares of 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 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. Finally, Citigroup began coverage on Parker-Hannifin in a report on Friday, February 7th. They issued a "buy" rating and a $795.00 price target for the company. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and an average price target of $736.65.
Read Our Latest Stock Report on Parker-Hannifin
Parker-Hannifin Stock Performance
PH stock traded up $14.21 during trading on Monday, hitting $622.09. 824,231 shares of the company's stock traded hands, compared to its average volume of 637,420. The stock has a fifty day moving average price of $662.02 and a two-hundred day moving average price of $651.99. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The stock has a market capitalization of $80.08 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.
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 analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.
Parker-Hannifin Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's dividend payout ratio is currently 26.99%.
About Parker-Hannifin
(
Free Report)
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.
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