Skba Capital Management LLC decreased its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,940 shares of the industrial products company's stock after selling 580 shares during the period. Skba Capital Management LLC's holdings in Parker-Hannifin were worth $6,322,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $25,000. Millstone Evans Group LLC bought a new position in Parker-Hannifin in the 4th quarter worth approximately $30,000. Prestige Wealth Management Group LLC grew its holdings in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock valued at $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 82.44% of the company's stock.
Parker-Hannifin Stock Down 11.9 %
Shares of NYSE:PH traded down $74.68 on Thursday, reaching $554.30. The company had a trading volume of 1,254,461 shares, compared to its average volume of 681,122. The firm has a market capitalization of $71.35 billion, a PE ratio of 23.02, a PEG ratio of 2.85 and a beta of 1.50. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The firm's 50 day simple moving average is $654.89 and its 200-day simple moving average is $655.17.
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, 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 expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.
Parker-Hannifin Dividend Announcement
The business 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. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.18%. Parker-Hannifin's dividend payout ratio is currently 26.99%.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the stock. Evercore ISI lifted their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Barclays decreased their target price on Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Jefferies Financial Group raised their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a report on Friday, December 6th. Wells Fargo & Company upped their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, StockNews.com lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $736.65.
Read Our Latest Research Report on Parker-Hannifin
About Parker-Hannifin
(
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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