Phoenix Financial Ltd. Grows Position in Parker-Hannifin Co. (NYSE:PH)

Phoenix Financial Ltd. increased its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 187.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,009 shares of the industrial products company's stock after purchasing an additional 658 shares during the period. Phoenix Financial Ltd.'s holdings in Parker-Hannifin were worth $642,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PH. Franklin Resources Inc. grew its stake in Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock valued at $415,409,000 after acquiring an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth about $23,390,000. SG Americas Securities LLC grew its holdings in Parker-Hannifin by 752.5% during the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock valued at $15,507,000 after buying an additional 21,521 shares in the last quarter. Columbus Macro LLC increased its stake in Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock worth $6,838,000 after acquiring an additional 8,914 shares during the last quarter. Finally, Congress Asset Management Co. boosted its position in shares of Parker-Hannifin by 15.5% during the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock valued at $121,292,000 after acquiring an additional 25,605 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Parker-Hannifin Stock Down 0.2 %

NYSE PH traded down $0.96 during midday trading on Tuesday, hitting $568.65. 433,523 shares of the company traded hands, compared to its average volume of 710,767. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44. The company's 50-day simple moving average is $628.88 and its 200-day simple moving average is $650.57. The company has a market cap of $73.20 billion, a PE 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 current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 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%. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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

Analyst Ratings Changes

PH has been the subject of several research reports. StockNews.com lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. KeyCorp dropped their price target on Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Barclays dropped their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Wells Fargo & Company upped their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, Stifel Nicolaus cut their target price on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating on the stock in a research note on Monday. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Parker-Hannifin has an average 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.