Magnetar Financial LLC Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

Magnetar Financial LLC bought a new position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,779 shares of the industrial products company's stock, valued at approximately $5,584,000.

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

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Wall Street Analysts Forecast Growth

PH has been the subject of several research reports. Wells Fargo & Company raised their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Barclays decreased their price target on Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Citigroup started coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a "buy" rating and a $795.00 price target on the stock. Wolfe Research raised shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price objective for the company in a research note on Thursday, December 12th. Finally, Jefferies Financial Group lifted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $736.65.

Parker-Hannifin Stock Up 3.4 %

Shares of NYSE PH traded up $21.11 during mid-day trading on Monday, reaching $643.21. The company had a trading volume of 893,752 shares, compared to its average volume of 642,896. The stock 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. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock's 50 day moving average is $660.71 and its 200-day moving average is $653.67.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's dividend payout ratio (DPR) is presently 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.