Congress Asset Management Co. Acquires 25,605 Shares of Parker-Hannifin Co. (NYSE:PH)

Congress Asset Management Co. raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 15.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,701 shares of the industrial products company's stock after purchasing an additional 25,605 shares during the quarter. Congress Asset Management Co. owned 0.15% of Parker-Hannifin worth $121,292,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Exchange Traded Concepts LLC purchased a new position in shares of Parker-Hannifin in the 3rd quarter worth about $97,000. Creative Planning increased its stake in shares of Parker-Hannifin by 9.9% in the third quarter. Creative Planning now owns 28,003 shares of the industrial products company's stock worth $17,693,000 after purchasing an additional 2,513 shares in the last quarter. Global Retirement Partners LLC grew its stake in Parker-Hannifin by 25.9% during the third quarter. Global Retirement Partners LLC now owns 1,377 shares of the industrial products company's stock valued at $870,000 after acquiring an additional 283 shares in the last quarter. Bleakley Financial Group LLC grew its stake in Parker-Hannifin by 4.7% during the third quarter. Bleakley Financial Group LLC now owns 2,699 shares of the industrial products company's stock valued at $1,705,000 after acquiring an additional 120 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in Parker-Hannifin by 22.7% during the third quarter. V Square Quantitative Management LLC now owns 1,226 shares of the industrial products company's stock valued at $775,000 after acquiring an additional 227 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Up 0.9 %

Shares of NYSE:PH traded up $6.02 during midday trading on Wednesday, reaching $701.48. The company's stock had a trading volume of 646,425 shares, compared to its average volume of 655,824. The firm has a 50 day moving average of $665.08 and a 200-day moving average of $642.79. The firm has a market capitalization of $90.30 billion, a P/E ratio of 29.03, a PEG ratio of 2.87 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. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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%. On average, research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current 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 paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin's dividend payout ratio is currently 26.99%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PH shares. Barclays cut their price target on shares of Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Evercore ISI boosted their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a report on Wednesday. KeyCorp boosted their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Argus boosted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Finally, Robert W. Baird boosted their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.