Vanguard Group Inc. Has $6.90 Billion Position in Parker-Hannifin Co. (NYSE:PH)

Vanguard Group Inc. increased its position in Parker-Hannifin Co. (NYSE:PH) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,854,774 shares of the industrial products company’s stock after buying an additional 111,406 shares during the period. Vanguard Group Inc. owned 8.43% of Parker-Hannifin worth $6,903,962,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PH. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Parker-Hannifin by 3.3% in the third 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 acquiring an additional 309 shares during the period. Icon Wealth Advisors LLC raised its stake in Parker-Hannifin by 205.2% during 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. Nwam LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $1,009,000. Nicolet Advisory Services LLC increased its holdings in shares of Parker-Hannifin by 16.0% during the third quarter. Nicolet Advisory Services LLC now owns 602 shares of the industrial products company’s stock worth $377,000 after buying an additional 83 shares in the last quarter. Finally, Cerity Partners LLC raised its position in Parker-Hannifin by 44.9% in the 3rd quarter. Cerity Partners LLC now owns 63,282 shares of the industrial products company’s stock valued at $39,983,000 after purchasing an additional 19,616 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PH. Barclays decreased their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. KeyCorp upped their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Citigroup initiated coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 price target for the company. Finally, 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. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $622.79 on Monday. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The firm has a fifty day simple moving average of $660.60 and a 200 day simple moving average of $653.19. The company has a market capitalization of $80.17 billion, a PE ratio of 25.78, a P/E/G ratio of 2.85 and a beta of 1.50. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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, sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 1.05%. Parker-Hannifin’s payout ratio 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.