Bridges Investment Management Inc. Cuts Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Bridges Investment Management Inc. lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,612 shares of the industrial products company's stock after selling 608 shares during the period. Bridges Investment Management Inc.'s holdings in Parker-Hannifin were worth $11,202,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC increased its stake 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 valued at $725,229,000 after acquiring an additional 1,139,265 shares during the last quarter. State Street Corp increased its holdings in shares of Parker-Hannifin by 13.8% during the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock worth $3,918,696,000 after buying an additional 753,143 shares in the last quarter. Wellington Management Group LLP lifted its stake 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 valued at $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 3rd quarter valued at $226,570,000. Finally, Mizuho Securities USA LLC grew its position in Parker-Hannifin by 3,566.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company's stock worth $229,541,000 after acquiring an additional 353,393 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Up 2.6 %

Shares of NYSE:PH traded up $15.96 during mid-day trading on Wednesday, hitting $640.86. The company had a trading volume of 1,239,478 shares, compared to its average volume of 624,859. 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 Co. has a one year low of $492.71 and a one year high of $718.44. The firm has a fifty day moving average price of $665.68 and a 200 day moving average price of $650.33. The company has a market capitalization of $82.49 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45.

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 for the quarter, beating 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%. As a group, research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. Parker-Hannifin's dividend payout ratio is 26.99%.

Wall Street Analyst Weigh In

Several equities analysts have commented on PH shares. TD Cowen increased their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a "hold" rating in a research report on Tuesday, November 12th. Barclays reduced their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Citigroup assumed coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They set a "buy" rating and a $795.00 price target for the company. Jefferies Financial Group boosted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Finally, UBS Group lowered their target price 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. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $739.06.

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.