Parker-Hannifin Co. (NYSE:PH) Shares Sold by Amica Mutual Insurance Co.

Amica Mutual Insurance Co. trimmed its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 4.2% in the fourth quarter, Holdings Channel reports. The firm owned 20,633 shares of the industrial products company’s stock after selling 911 shares during the period. Parker-Hannifin makes up 1.3% of Amica Mutual Insurance Co.’s portfolio, making the stock its 13th biggest position. Amica Mutual Insurance Co.’s holdings in Parker-Hannifin were worth $13,123,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter valued at about $25,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $30,000. Prestige Wealth Management Group LLC raised its holdings in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire acquired a new stake in Parker-Hannifin during the fourth quarter worth about $35,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. StockNews.com downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. KeyCorp boosted their target price on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group decreased their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Stifel Nicolaus upped their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Finally, Barclays reduced their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Price Performance

NYSE PH opened at $636.82 on Thursday. The company has a 50 day simple moving average of $660.41 and a 200-day simple moving average of $654.11. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The firm has a market capitalization of $81.97 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

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

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. Parker-Hannifin’s payout ratio 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.