Aviva PLC Acquires 16,268 Shares of Parker-Hannifin Co. (NYSE:PH)

Aviva PLC lifted its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 38.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,724 shares of the industrial products company's stock after acquiring an additional 16,268 shares during the period. Aviva PLC's holdings in Parker-Hannifin were worth $37,350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC lifted its stake in shares of Parker-Hannifin by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock worth $886,000 after buying an additional 15 shares during the last quarter. FFT Wealth Management LLC lifted its position in Parker-Hannifin by 1.3% during the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock worth $732,000 after acquiring an additional 15 shares during the last quarter. GenTrust LLC boosted its holdings in Parker-Hannifin by 2.9% during the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock valued at $333,000 after acquiring an additional 15 shares during the period. Grove Bank & Trust grew its position in shares of Parker-Hannifin by 11.9% in the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company's stock valued at $95,000 after purchasing an additional 16 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC increased its stake in shares of Parker-Hannifin by 0.6% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company's stock worth $1,723,000 after purchasing an additional 16 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

PH has been the subject of several recent analyst reports. KeyCorp decreased their target price on Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating for the company in a research note on Tuesday. Evercore ISI increased their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. StockNews.com cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Finally, UBS Group decreased their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $720.47.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded up $1.39 during midday trading on Friday, hitting $561.57. 362,221 shares of the company were exchanged, compared to its average volume of 707,294. The firm has a 50 day simple moving average of $633.78 and a 200-day simple moving average of $651.30. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44. The firm has a market cap of $72.28 billion, a P/E ratio of 23.19, a PEG ratio of 2.85 and a beta of 1.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results 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%. Research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.16%. The ex-dividend date was Friday, February 7th. Parker-Hannifin's dividend 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.