43,293 Shares in Parker-Hannifin Co. (NYSE:PH) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 43,293 shares of the industrial products company’s stock, valued at approximately $27,536,000.

Other large investors also recently bought and sold shares of the company. Prospera Financial Services Inc lifted its position in Parker-Hannifin by 37.0% in the third quarter. Prospera Financial Services Inc now owns 1,347 shares of the industrial products company’s stock valued at $853,000 after purchasing an additional 364 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Parker-Hannifin by 3.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 9,771 shares of the industrial products company’s stock valued at $6,174,000 after buying an additional 309 shares during the period. Raymond James Trust N.A. boosted its stake in shares of Parker-Hannifin by 0.6% in the third quarter. Raymond James Trust N.A. now owns 6,096 shares of the industrial products company’s stock valued at $3,852,000 after buying an additional 36 shares in the last quarter. CFS Investment Advisory Services LLC grew its holdings in Parker-Hannifin by 3.4% during the third quarter. CFS Investment Advisory Services LLC now owns 583 shares of the industrial products company’s stock worth $368,000 after acquiring an additional 19 shares during the period. Finally, Icon Wealth Advisors LLC raised its position in Parker-Hannifin by 205.2% in the third quarter. Icon Wealth Advisors LLC now owns 995 shares of the industrial products company’s stock worth $629,000 after acquiring an additional 669 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Barclays lowered their price target on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. KeyCorp upped their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research report on Thursday, December 12th. Jefferies Financial Group upped their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Stifel Nicolaus lifted their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $622.79 on Friday. 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 company has a market cap of $80.17 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The company has a 50-day simple moving average of $660.60 and a 200-day simple moving average of $652.66. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly 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 return on equity of 27.34% and a net margin of 15.87%. On average, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm 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. This represents a $6.52 annualized dividend and a yield of 1.05%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

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.