MetLife Investment Management LLC lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,058 shares of the industrial products company's stock after purchasing an additional 643 shares during the period. MetLife Investment Management LLC's holdings in Parker-Hannifin were worth $21,662,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Anchor Investment Management LLC lifted its position in shares of Parker-Hannifin by 10.5% in the third quarter. Anchor Investment Management LLC now owns 317 shares of the industrial products company's stock valued at $200,000 after acquiring an additional 30 shares in the last quarter. Stock Yards Bank & Trust Co. purchased a new position in Parker-Hannifin in the 3rd quarter valued at $217,000. World Investment Advisors LLC purchased a new position in Parker-Hannifin in the 3rd quarter valued at $584,000. Wilmington Savings Fund Society FSB boosted its stake in Parker-Hannifin by 176.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 9,108 shares of the industrial products company's stock worth $5,755,000 after purchasing an additional 5,817 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Parker-Hannifin by 10.8% during the third quarter. Tidal Investments LLC now owns 9,683 shares of the industrial products company's stock worth $6,118,000 after buying an additional 946 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.
Parker-Hannifin Trading Up 2.5 %
Parker-Hannifin stock traded up $14.38 during midday trading on Wednesday, reaching $581.03. 668,129 shares of the stock traded hands, compared to its average volume of 714,251. The firm has a market cap of $74.79 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. 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 company has a 50-day simple moving average of $613.99 and a two-hundred day simple moving average of $647.57. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month high of $718.44.
Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating 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%. Research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.
Parker-Hannifin Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.12%. Parker-Hannifin's dividend payout ratio (DPR) is currently 26.99%.
Analysts Set New Price Targets
A number of research firms recently weighed in on PH. KeyCorp lowered their price target on shares of Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. UBS Group lowered their target price on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. StockNews.com cut Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Evercore ISI boosted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus cut their target price on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $705.35.
Check Out Our Latest Research Report on Parker-Hannifin
Parker-Hannifin Profile
(
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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