Parker-Hannifin Co. (NYSE:PH) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 13.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,751 shares of the industrial products company's stock after selling 3,282 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Parker-Hannifin were worth $13,198,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at about $25,000. Prestige Wealth Management Group LLC raised its position in shares of 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 buying an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC acquired a new stake in Parker-Hannifin during the fourth quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC purchased a new stake in Parker-Hannifin in the 4th quarter worth approximately $44,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on PH. TD Cowen increased their price target on Parker-Hannifin from $520.00 to $575.00 and gave the stock a "hold" rating in a research note on Tuesday, November 12th. UBS Group decreased their price target on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Argus upped their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Evercore ISI boosted their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $739.06.

Parker-Hannifin Stock Down 2.9 %

Shares of PH stock traded down $19.55 during trading hours on Monday, reaching $648.96. The company had a trading volume of 1,127,200 shares, compared to its average volume of 679,144. The stock's fifty day simple moving average is $666.19 and its 200 day simple moving average is $649.64. The company has a market capitalization of $83.53 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, sell-side 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 will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.00%. Parker-Hannifin's payout ratio is currently 26.99%.

Parker-Hannifin 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.