Van ECK Associates Corp Buys Shares of 21,512 Parker-Hannifin Co. (NYSE:PH)

Van ECK Associates Corp purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 21,512 shares of the industrial products company's stock, valued at approximately $13,682,000.

Several other hedge funds and other institutional investors have also modified their holdings of PH. Grove Bank & Trust boosted its holdings in Parker-Hannifin by 11.9% in the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company's stock valued at $95,000 after purchasing an additional 16 shares during the period. Moody Lynn & Lieberson LLC boosted its holdings in Parker-Hannifin by 0.6% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company's stock valued at $1,723,000 after purchasing an additional 16 shares during the period. Everpar Advisors LLC boosted its holdings in Parker-Hannifin by 1.3% in the fourth quarter. Everpar Advisors LLC now owns 1,339 shares of the industrial products company's stock valued at $852,000 after purchasing an additional 17 shares during the period. LVW Advisors LLC boosted its holdings in Parker-Hannifin by 0.9% in the fourth quarter. LVW Advisors LLC now owns 1,969 shares of the industrial products company's stock valued at $1,252,000 after purchasing an additional 17 shares during the period. Finally, Tilia Fiduciary Partners Inc. raised its stake in Parker-Hannifin by 0.7% in the fourth quarter. Tilia Fiduciary Partners Inc. now owns 2,521 shares of the industrial products company's stock valued at $1,603,000 after buying an additional 18 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PH shares. 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 research note on Friday, December 6th. Argus raised their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Barclays cut their price target on Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. KeyCorp raised their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, Citigroup began coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a "buy" rating and a $795.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $739.06.

Parker-Hannifin Stock Performance

PH traded up $6.02 during trading on Wednesday, reaching $701.48. The company's stock had a trading volume of 642,063 shares, compared to its average volume of 655,272. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The company's fifty day moving average price is $665.08 and its 200-day moving average price is $642.79. The company has a market capitalization of $90.30 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 2.87 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

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

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, February 7th. Parker-Hannifin's dividend payout ratio (DPR) is 26.99%.

Parker-Hannifin Company 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.