Aristotle Capital Management LLC Has $2.03 Billion Stock Position in Parker-Hannifin Co. (NYSE:PH)

Aristotle Capital Management LLC lowered its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 1.7% during the 4th quarter, HoldingsChannel reports. The fund owned 3,192,794 shares of the industrial products company’s stock after selling 54,789 shares during the period. Parker-Hannifin accounts for approximately 3.9% of Aristotle Capital Management LLC’s portfolio, making the stock its biggest holding. Aristotle Capital Management LLC’s holdings in Parker-Hannifin were worth $2,030,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Parker-Hannifin by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company’s stock valued at $6,903,962,000 after purchasing an additional 111,406 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Parker-Hannifin by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company’s stock valued at $1,699,580,000 after acquiring an additional 99,261 shares in the last quarter. Invesco Ltd. raised its holdings in Parker-Hannifin by 8.6% in the 4th quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company’s stock worth $1,591,810,000 after acquiring an additional 198,292 shares during the last quarter. Norges Bank purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $1,106,132,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Parker-Hannifin by 17.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,600,842 shares of the industrial products company’s stock valued at $1,018,185,000 after acquiring an additional 237,634 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $619.37 on Friday. The stock has a market cap of $79.73 billion, a P/E ratio of 25.64, a P/E/G ratio of 2.85 and a beta of 1.36. 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 fifty day moving average is $600.70 and its 200 day moving average is $645.65. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating analysts’ consensus estimates of $6.72 by $0.22. The firm had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $6.51 EPS. Sell-side analysts anticipate 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. The ex-dividend date is Friday, May 9th. This is a boost 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 1.16%. Parker-Hannifin’s dividend payout ratio is 27.72%.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of research analyst reports. StockNews.com lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Evercore ISI lifted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Wolfe Research cut shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $564.00 to $630.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Citigroup lowered their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $711.88.

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.