Parker-Hannifin Co. (NYSE:PH) Holdings Lowered by Blue Trust Inc.

Blue Trust Inc. lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 51.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 957 shares of the industrial products company's stock after selling 1,007 shares during the quarter. Blue Trust Inc.'s holdings in Parker-Hannifin were worth $608,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted 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 purchasing an additional 753,143 shares during the last quarter. FMR LLC lifted its holdings in shares of Parker-Hannifin by 7.1% during the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company's stock worth $2,600,733,000 after acquiring an additional 272,531 shares during the period. Geode Capital Management LLC grew its holdings in 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 valued at $1,623,689,000 after purchasing an additional 29,408 shares during the period. Wellington Management Group LLP increased its position in 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in 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 during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Down 0.8 %

Shares of PH traded down $5.73 during trading on Thursday, reaching $695.82. The company's stock had a trading volume of 576,110 shares, compared to its average volume of 653,540. The company has a market cap of $89.57 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 2.85 and a beta of 1.45. 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 company has a fifty day moving average of $665.39 and a two-hundred day moving average of $643.20. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44.

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

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin's dividend payout ratio is presently 26.99%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PH shares. Barclays cut their target price on Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Jefferies Financial Group lifted their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a "hold" rating in a research report on Friday, January 31st. Finally, Argus lifted their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $739.06.

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.