Tocqueville Asset Management L.P. Has $46.27 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Tocqueville Asset Management L.P. lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 72,753 shares of the industrial products company’s stock after buying an additional 220 shares during the period. Tocqueville Asset Management L.P.’s holdings in Parker-Hannifin were worth $46,273,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. CIBC Asset Management Inc lifted its stake in Parker-Hannifin by 8.4% in the 3rd quarter. CIBC Asset Management Inc now owns 18,782 shares of the industrial products company’s stock valued at $11,867,000 after purchasing an additional 1,453 shares during the last quarter. Empowered Funds LLC lifted its stake in Parker-Hannifin by 13.5% in the 3rd quarter. Empowered Funds LLC now owns 2,499 shares of the industrial products company’s stock valued at $1,579,000 after purchasing an additional 298 shares during the last quarter. Beaton Management Co. Inc. acquired a new stake in Parker-Hannifin in the 3rd quarter valued at about $222,000. Atlanta Consulting Group Advisors LLC acquired a new stake in Parker-Hannifin in the 3rd quarter valued at about $306,000. Finally, Adero Partners LLC acquired a new stake in Parker-Hannifin in the 3rd quarter valued at about $224,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $608.17 on Monday. The firm has a market cap of $78.28 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The firm’s fifty day moving average is $662.02 and its 200-day moving average is $651.99. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS 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%. Sell-side analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PH shares. Jefferies Financial Group raised their target price 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. 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. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Evercore ISI increased their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Parker-Hannifin currently 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.