Vanguard Group Inc. Acquires 111,406 Shares of Parker-Hannifin Co. (NYSE:PH)

Vanguard Group Inc. raised its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,854,774 shares of the industrial products company's stock after acquiring an additional 111,406 shares during the period. Vanguard Group Inc. owned approximately 8.43% of Parker-Hannifin worth $6,903,962,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PH. Whipplewood Advisors LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at approximately $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at approximately $30,000. Prestige Wealth Management Group LLC increased its holdings in shares of Parker-Hannifin by 83.3% during 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 in the last quarter. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin during the 4th quarter valued at $35,000. Finally, Kestra Investment Management LLC bought a new stake in Parker-Hannifin during the 4th quarter worth $40,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 4.1 %

Shares of NYSE PH traded down $25.49 during mid-day trading on Friday, reaching $600.78. 812,633 shares of the company's stock traded hands, compared to its average volume of 675,986. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The stock has a market cap of $77.33 billion, a P/E ratio of 24.87, a PEG ratio of 2.85 and a beta of 1.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The business has a 50-day simple moving average of $658.39 and a 200 day simple moving average of $654.07.

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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 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%. On average, analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.09%. Parker-Hannifin's payout ratio is 26.99%.

Analyst Ratings Changes

PH has been the topic of a number of recent research reports. Evercore ISI lifted their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Citigroup assumed coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They set a "buy" rating and a $795.00 target price on the stock. StockNews.com cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Jefferies Financial Group upped their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Finally, UBS Group reduced their target price on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and an average target price of $736.65.

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.