Berger Financial Group Inc Sells 66 Shares of Parker-Hannifin Co. (NYSE:PH)

Berger Financial Group Inc lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,522 shares of the industrial products company’s stock after selling 66 shares during the period. Berger Financial Group Inc’s holdings in Parker-Hannifin were worth $1,604,000 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 the stock. Norges Bank acquired a new position in Parker-Hannifin in the 4th quarter valued at $1,106,132,000. Proficio Capital Partners LLC grew its holdings in 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 buying an additional 1,139,265 shares in the last quarter. Capital World Investors acquired a new position in Parker-Hannifin in the 4th quarter valued at $418,174,000. Assenagon Asset Management S.A. grew its holdings in 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 buying an additional 279,480 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Parker-Hannifin in the 4th quarter valued at $175,739,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.1 %

PH opened at $597.68 on Monday. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The firm has a market capitalization of $76.93 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 2.85 and a beta of 1.39. The company’s 50 day moving average price is $607.62 and its two-hundred day moving average price is $646.88.

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

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be paid a $1.80 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, May 9th. Parker-Hannifin’s dividend payout ratio is currently 29.80%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PH. Stifel Nicolaus cut their target price on Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating for the company in a research report on Monday, April 14th. Evercore ISI upped their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. UBS Group cut their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Wolfe Research downgraded Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Finally, KeyCorp dropped their price objective on Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $705.35.

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.