Diamond Hill Capital Management Inc. Has $255.48 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Diamond Hill Capital Management Inc. lessened its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 50.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 401,682 shares of the industrial products company’s stock after selling 402,161 shares during the period. Diamond Hill Capital Management Inc. owned 0.31% of Parker-Hannifin worth $255,482,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Proficio Capital Partners LLC raised its stake in shares of Parker-Hannifin by 116,370.3% in 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 purchasing an additional 1,139,265 shares during the period. State Street Corp increased its stake 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. Wellington Management Group LLP increased its stake 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. World Investment Advisors LLC bought a new stake in Parker-Hannifin during the 3rd quarter worth about $226,570,000. Finally, Mizuho Securities USA LLC boosted its stake in shares of Parker-Hannifin by 3,566.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock worth $229,541,000 after buying an additional 353,393 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group lowered their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research note on Thursday, December 12th. KeyCorp increased their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup began coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. Finally, Jefferies Financial Group increased their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $591.55 on Friday. The firm has a market cap of $76.14 billion, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The business’s 50 day moving average is $662.61 and its 200-day moving average is $651.00. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44.

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

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.10%. The ex-dividend date was Friday, February 7th. 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.