Rathbones Group PLC lessened its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 26.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,031 shares of the industrial products company's stock after selling 1,084 shares during the period. Rathbones Group PLC's holdings in Parker-Hannifin were worth $1,928,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Parker-Hannifin by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock valued at $6,903,962,000 after acquiring an additional 111,406 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Parker-Hannifin by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock worth $1,699,580,000 after purchasing an additional 99,261 shares during the period. Invesco Ltd. grew its position in shares of Parker-Hannifin by 8.6% during the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company's stock worth $1,591,810,000 after acquiring an additional 198,292 shares during the last quarter. Norges Bank bought a new position in shares of Parker-Hannifin in the fourth quarter worth $1,106,132,000. Finally, Proficio Capital Partners LLC lifted its position 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 worth $725,229,000 after purchasing an additional 1,139,265 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.
Parker-Hannifin Price Performance
Shares of Parker-Hannifin stock traded up $0.66 during trading on Monday, hitting $566.03. 148,683 shares of the stock traded hands, compared to its average volume of 709,588. The stock has a market cap of $72.86 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 2.85 and a beta of 1.39. 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 52 week low of $488.45 and a 52 week high of $718.44. The firm's fifty day moving average is $631.27 and its 200-day moving average is $651.01.
Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping 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%. Research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.
Parker-Hannifin Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.15%. The ex-dividend date was Friday, February 7th. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.99%.
Analyst Ratings Changes
PH has been the subject of a number of research reports. KeyCorp decreased their price objective 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 cut their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research note on Thursday. StockNews.com lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. UBS Group lowered their price target on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Finally, Stifel Nicolaus reduced their price objective on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating for the company in a research report on Monday. Four research 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, Parker-Hannifin presently has an average rating of "Moderate Buy" and an average price target of $713.00.
Check Out Our Latest Stock Report on PH
Parker-Hannifin Company Profile
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Free Report)
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.
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