Scotia Capital Inc. Boosts Stock Position in Parker-Hannifin Co. (NYSE:PH)

Scotia Capital Inc. lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 12.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,512 shares of the industrial products company's stock after buying an additional 1,280 shares during the quarter. Scotia Capital Inc.'s holdings in Parker-Hannifin were worth $7,322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $1,106,132,000. Proficio Capital Partners LLC increased its position in Parker-Hannifin by 116,370.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock worth $725,229,000 after buying an additional 1,139,265 shares during the period. 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 worth $278,661,000 after buying an additional 279,480 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at about $175,739,000. Finally, Franklin Resources Inc. increased its position in Parker-Hannifin by 41.1% during the fourth quarter. Franklin Resources Inc. now owns 911,075 shares of the industrial products company's stock worth $579,471,000 after acquiring an additional 265,559 shares during the period. Institutional investors own 82.44% of the company's stock.

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Parker-Hannifin Trading Down 0.2 %

Shares of Parker-Hannifin stock traded down $0.96 on Tuesday, reaching $568.65. 433,523 shares of the company's stock were exchanged, compared to its average volume of 710,767. The firm's 50-day moving average is $628.88 and its two-hundred day moving average is $650.57. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44. The company has a market capitalization of $73.20 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. 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 (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating 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%. Sell-side analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.15%. Parker-Hannifin's dividend payout ratio is 26.99%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PH shares. Barclays lowered their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Stifel Nicolaus dropped their price objective on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating for the company in a report on Monday. KeyCorp decreased their price target on 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 dropped their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Finally, Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus target price of $705.35.

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.