Parker-Hannifin Co. (NYSE:PH) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 25.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 85,189 shares of the industrial products company’s stock after selling 28,365 shares during the period. National Bank of Canada FI owned 0.07% of Parker-Hannifin worth $54,183,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PH. Norges Bank purchased a new position in Parker-Hannifin during the fourth quarter worth about $1,106,132,000. Proficio Capital Partners LLC raised its position in shares of Parker-Hannifin by 116,370.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after buying an additional 1,139,265 shares during the period. State Street Corp lifted its holdings in Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after acquiring an additional 753,143 shares during the last quarter. Wellington Management Group LLP grew its position in Parker-Hannifin by 39.9% in the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after acquiring an additional 564,365 shares during the period. Finally, World Investment Advisors LLC acquired a new stake in Parker-Hannifin during the third quarter worth $226,570,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PH shares. StockNews.com cut Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Jefferies Financial Group lifted their price target 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. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group dropped their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, KeyCorp upped their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Trading Up 0.3 %

NYSE PH opened at $609.53 on Wednesday. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The firm has a 50 day moving average of $655.77 and a two-hundred day moving average of $655.35. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $78.46 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS 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%. As a group, research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal 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 issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

About Parker-Hannifin

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.