Lbp Am Sa Trims Stock Position in Parker-Hannifin Co. (NYSE:PH)

LBP AM SA trimmed its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 84.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,731 shares of the industrial products company's stock after selling 14,600 shares during the period. LBP AM SA's holdings in Parker-Hannifin were worth $1,737,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp increased its position in shares of 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 worth $3,918,696,000 after purchasing an additional 753,143 shares during the last quarter. FMR LLC increased its position in shares of Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company's stock worth $2,600,733,000 after purchasing an additional 272,531 shares during the last quarter. Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 29,408 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Parker-Hannifin by 39.9% in 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 purchasing an additional 564,365 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Parker-Hannifin by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company's stock worth $1,007,102,000 after purchasing an additional 59,432 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wolfe Research upgraded shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price target on the stock in a research report on Thursday, December 12th. Evercore ISI increased their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Barclays reduced their price target on shares of Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, 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. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and an average target price of $736.65.

Parker-Hannifin Stock Down 0.9 %

Parker-Hannifin stock traded down $5.40 on Thursday, hitting $624.61. 692,452 shares of the stock traded hands, compared to its average volume of 777,433. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year 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 business's fifty day simple moving average is $661.07 and its 200 day simple moving average is $652.16. The firm has a market cap of $80.40 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly 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 return on equity of 27.34% and a net margin of 15.87%. As a group, 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 disclosed 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 annualized dividend and a yield of 1.04%. 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.