Sterling Capital Management LLC Sells 1,071 Shares of Parker-Hannifin Co. (NYSE:PH)

Sterling Capital Management LLC reduced its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 14.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,096 shares of the industrial products company's stock after selling 1,071 shares during the period. Sterling Capital Management LLC's holdings in Parker-Hannifin were worth $3,877,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PH. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin during the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $25,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $30,000. Bank of New Hampshire purchased a new position in Parker-Hannifin in the fourth quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC bought a new position in Parker-Hannifin during the fourth quarter valued at $40,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded down $0.96 during trading on Tuesday, reaching $568.65. The company had a trading volume of 440,726 shares, compared to its average volume of 710,954. The company has a fifty day moving average of $626.42 and a two-hundred day moving average of $650.00. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $73.20 billion, a P/E ratio of 23.54, 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.

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

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given 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 yield of 1.15%. Parker-Hannifin's payout ratio is 26.99%.

Wall Street Analyst Weigh In

PH has been the topic of a number of recent research reports. StockNews.com cut Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Evercore ISI upped their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Stifel Nicolaus lowered their target price on shares of Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating on the stock in a report on Monday. KeyCorp cut their price target on Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, UBS Group decreased their price objective 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. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin presently has an average rating of "Moderate Buy" and an average price target of $705.35.

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.