Parker-Hannifin Co. (NYSE:PH) Shares Sold by Boston Partners

Boston Partners lowered its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1.0% during the fourth quarter, Holdings Channel reports. The firm owned 580,054 shares of the industrial products company’s stock after selling 5,788 shares during the quarter. Boston Partners’ holdings in Parker-Hannifin were worth $368,986,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. increased its position in shares of Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after purchasing an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at about $23,390,000. SG Americas Securities LLC increased its position in Parker-Hannifin by 752.5% in the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock valued at $15,507,000 after acquiring an additional 21,521 shares during the period. Columbus Macro LLC increased its position in Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock valued at $6,838,000 after acquiring an additional 8,914 shares during the period. Finally, Congress Asset Management Co. increased its position in Parker-Hannifin by 15.5% in the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock valued at $121,292,000 after acquiring an additional 25,605 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

PH stock opened at $622.09 on Tuesday. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock’s 50 day moving average price is $661.68 and its 200 day moving average price is $652.21. The firm has a market cap of $80.08 billion, a P/E ratio of 25.75, a PEG 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 earnings per share (EPS) for the quarter, beating 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 expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.05%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Analyst Ratings Changes

Several equities analysts recently issued reports on PH shares. Wells Fargo & Company boosted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a report on Thursday, December 12th. Barclays lowered their price objective on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Evercore ISI lifted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.