Parker-Hannifin Co. (NYSE:PH) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 241,487 shares of the industrial products company's stock after selling 5,843 shares during the period. Rhumbline Advisers owned about 0.19% of Parker-Hannifin worth $153,593,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. West Branch Capital LLC purchased a new stake in Parker-Hannifin in the third quarter worth about $25,000. Prestige Wealth Management Group LLC raised its holdings in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after buying an additional 25 shares during the period. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin during the third quarter valued at $39,000. Finally, Hager Investment Management Services LLC purchased a new position in Parker-Hannifin during the fourth quarter valued at approximately $44,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Up 0.9 %

NYSE PH traded up $6.02 during trading hours on Wednesday, hitting $701.48. 642,264 shares of the company's stock were exchanged, compared to its average volume of 655,824. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The firm has a market capitalization of $90.30 billion, a P/E ratio of 29.03, a price-to-earnings-growth ratio of 2.87 and a beta of 1.45. The business's 50 day moving average is $665.08 and its 200-day moving average is $642.79. 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 issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating analysts' consensus estimates 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 anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.93%. Parker-Hannifin's dividend payout ratio is currently 26.99%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PH. Wells Fargo & Company lifted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Robert W. Baird boosted their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Evercore ISI increased their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research report on Wednesday. Stifel Nicolaus increased their price target on Parker-Hannifin from $689.00 to $691.00 and gave the stock a "hold" rating in a report on Friday, January 31st. Finally, Argus upped their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average 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.