Sheaff Brock Investment Advisors LLC Lowers Holdings in Parker-Hannifin Co. (NYSE:PH)

Sheaff Brock Investment Advisors LLC cut its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,042 shares of the industrial products company's stock after selling 1,067 shares during the period. Parker-Hannifin comprises about 0.8% of Sheaff Brock Investment Advisors LLC's investment portfolio, making the stock its 26th biggest position. Sheaff Brock Investment Advisors LLC's holdings in Parker-Hannifin were worth $9,567,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp lifted 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 valued at $3,918,696,000 after buying an additional 753,143 shares in the last quarter. FMR LLC lifted its position in shares of Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company's stock valued at $2,600,733,000 after acquiring an additional 272,531 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Parker-Hannifin by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company's stock worth $1,623,689,000 after acquiring an additional 29,408 shares during the period. Wellington Management Group LLP grew its position in shares of Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock worth $1,249,645,000 after purchasing an additional 564,365 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Parker-Hannifin by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company's stock worth $1,007,102,000 after purchasing an additional 59,432 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PH. Robert W. Baird upped their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. StockNews.com upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, February 8th. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a research note on Friday, January 31st. KeyCorp boosted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company raised their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $739.06.

Parker-Hannifin Trading Up 0.9 %

NYSE:PH traded up $6.02 during midday trading on Wednesday, hitting $701.48. 646,425 shares of the company traded hands, compared to its average volume of 655,960. The firm has a market capitalization of $90.30 billion, a P/E ratio of 29.03, a P/E/G ratio of 2.87 and a beta of 1.45. The firm's fifty day moving average is $665.08 and its 200-day moving average is $642.79. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, February 7th. Parker-Hannifin's dividend 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.