Parker-Hannifin Co. (NYSE:PH) Shares Bought by Tredje AP fonden

Tredje AP fonden raised its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,842 shares of the industrial products company's stock after purchasing an additional 5,820 shares during the period. Tredje AP fonden's holdings in Parker-Hannifin were worth $34,881,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Franklin Resources Inc. boosted its holdings in shares of Parker-Hannifin by 39.2% in the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock valued at $415,409,000 after buying an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth $23,390,000. SG Americas Securities LLC boosted its stake in Parker-Hannifin by 752.5% during the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock worth $15,507,000 after purchasing an additional 21,521 shares during the period. Columbus Macro LLC boosted its stake in Parker-Hannifin by 485.2% during the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock worth $6,838,000 after purchasing an additional 8,914 shares during the period. Finally, Congress Asset Management Co. boosted its stake in Parker-Hannifin by 15.5% during the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock worth $121,292,000 after purchasing an additional 25,605 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

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Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a "hold" rating in a research note on Friday, January 31st. UBS Group reduced their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Evercore ISI raised their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Citigroup began coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They issued a "buy" rating and a $795.00 target price for the company. Finally, Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $736.65.

Parker-Hannifin Price Performance

NYSE:PH traded down $21.59 during mid-day trading on Thursday, hitting $591.55. 1,471,826 shares of the company's stock traded hands, compared to its average volume of 635,676. 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's 50 day simple moving average is $662.61 and its 200 day simple moving average is $651.00. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The company has a market cap of $76.14 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.

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 for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Sell-side analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.10%. Parker-Hannifin's dividend payout ratio (DPR) is currently 26.99%.

About Parker-Hannifin

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.