Canopy Partners LLC Has $225,000 Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Canopy Partners LLC decreased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 7.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 354 shares of the industrial products company’s stock after selling 27 shares during the quarter. Canopy Partners LLC’s holdings in Parker-Hannifin were worth $225,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PH. Norges Bank bought a new stake in Parker-Hannifin during the fourth quarter worth $1,106,132,000. Proficio Capital Partners LLC increased its stake 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 worth $725,229,000 after purchasing an additional 1,139,265 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Parker-Hannifin by 176.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company’s stock valued at $278,661,000 after purchasing an additional 279,480 shares during the period. Raymond James Financial Inc. acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $175,739,000. Finally, Franklin Resources Inc. grew its holdings in Parker-Hannifin by 41.1% during the fourth quarter. Franklin Resources Inc. now owns 911,075 shares of the industrial products company’s stock worth $579,471,000 after purchasing an additional 265,559 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $517.00 on Monday. The firm has a 50 day moving average of $649.18 and a 200-day moving average of $654.59. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. 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 stock has a market capitalization of $66.55 billion, a PE ratio of 21.40, a PEG ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data 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 net margin of 15.87% and a return on equity of 27.34%. On average, equities research analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PH. Evercore ISI lifted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. KeyCorp raised their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. 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. Citigroup began coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 target price for the company. Finally, Stifel Nicolaus increased 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. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $736.65.

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.