Keybank National Association OH Lowers Stock Position in Parker-Hannifin Co. (NYSE:PH)

Keybank National Association OH cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 505,726 shares of the industrial products company’s stock after selling 13,588 shares during the quarter. Parker-Hannifin makes up 1.2% of Keybank National Association OH’s holdings, making the stock its 16th largest position. Keybank National Association OH’s holdings in Parker-Hannifin were worth $321,657,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. State Street Corp grew its position in Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after buying an additional 753,143 shares during the last quarter. FMR LLC grew its position in Parker-Hannifin by 7.1% in the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after buying an additional 272,531 shares during the last quarter. Geode Capital Management LLC grew its position in Parker-Hannifin by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock valued at $1,623,689,000 after buying an additional 29,408 shares during the last quarter. Wellington Management Group LLP grew its position in Parker-Hannifin by 39.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after buying an additional 564,365 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Parker-Hannifin by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock valued at $1,007,102,000 after buying an additional 59,432 shares during 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 equities analysts recently weighed in on PH shares. Jefferies Financial Group lifted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Barclays decreased their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Argus boosted their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. KeyCorp boosted 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. Finally, Evercore ISI boosted their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $739.06.

Parker-Hannifin Trading Down 2.9 %

Shares of PH stock opened at $648.96 on Tuesday. The company has a market capitalization of $83.53 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.85 and a beta of 1.45. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $666.26 and a 200 day moving average price of $650.05. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Research 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 announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.00%. 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.