Pinebridge Investments L.P. Sells 25,204 Shares of Parker-Hannifin Co. (NYSE:PH)

Pinebridge Investments L.P. reduced its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 74.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,784 shares of the industrial products company's stock after selling 25,204 shares during the quarter. Pinebridge Investments L.P.'s holdings in Parker-Hannifin were worth $5,587,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PH. Anchor Investment Management LLC raised its stake in shares of Parker-Hannifin by 10.5% during the third quarter. Anchor Investment Management LLC now owns 317 shares of the industrial products company's stock valued at $200,000 after purchasing an additional 30 shares during the period. Stock Yards Bank & Trust Co. bought a new position in shares of Parker-Hannifin during the third quarter valued at approximately $217,000. World Investment Advisors LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth approximately $584,000. Wilmington Savings Fund Society FSB boosted its holdings in shares of Parker-Hannifin by 176.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 9,108 shares of the industrial products company's stock valued at $5,755,000 after acquiring an additional 5,817 shares during the period. Finally, Tidal Investments LLC increased its holdings in shares of Parker-Hannifin by 10.8% in the 3rd quarter. Tidal Investments LLC now owns 9,683 shares of the industrial products company's stock worth $6,118,000 after acquiring an additional 946 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Trading Up 1.1 %

Parker-Hannifin stock traded up $6.48 during mid-day trading on Tuesday, hitting $603.57. The company's stock had a trading volume of 577,452 shares, compared to its average volume of 714,982. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The business has a 50 day moving average price of $605.53 and a 200-day moving average price of $646.60. The stock has a market cap of $77.69 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a 12 month low of $488.45 and a 12 month high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data 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 return on equity of 27.34% and a net margin of 15.87%. As a group, analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 1.19%. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. Parker-Hannifin's payout ratio is 29.80%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Stifel Nicolaus decreased their price objective on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating for the company in a report on Monday, April 14th. KeyCorp decreased 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. Wolfe Research downgraded shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, Citigroup reduced their price objective on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus price target 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.