Parallel Advisors LLC Buys 1,606 Shares of Parker-Hannifin Co. (NYSE:PH)

Parallel Advisors LLC raised its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 51.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,741 shares of the industrial products company's stock after buying an additional 1,606 shares during the period. Parallel Advisors LLC's holdings in Parker-Hannifin were worth $3,016,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PH. Proficio Capital Partners LLC raised its position in Parker-Hannifin by 116,370.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock worth $725,229,000 after acquiring an additional 1,139,265 shares in the last quarter. State Street Corp boosted its stake in shares of Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock worth $3,918,696,000 after acquiring an additional 753,143 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Parker-Hannifin by 39.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock worth $1,249,645,000 after acquiring an additional 564,365 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Parker-Hannifin during the third quarter worth $226,570,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Parker-Hannifin by 176.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company's stock valued at $278,661,000 after purchasing an additional 279,480 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of analysts have commented on PH shares. Jefferies Financial Group upped their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Barclays decreased their price objective 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 began coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They set a "buy" rating and a $795.00 target price for the company. Wells Fargo & Company upped 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. Finally, UBS Group reduced their price objective on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $736.65.

Parker-Hannifin Trading Down 0.3 %

PH stock traded down $1.93 during trading on Friday, hitting $622.79. The company had a trading volume of 813,148 shares, compared to its average volume of 778,086. The firm has a 50-day moving average price of $660.75 and a 200-day moving average price of $651.97. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market cap of $80.17 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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, analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's dividend payout ratio (DPR) is presently 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.