Parker-Hannifin Co. (NYSE:PH) Shares Sold by DnB Asset Management AS

DnB Asset Management AS decreased its position in Parker-Hannifin Co. (NYSE:PH) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 60,388 shares of the industrial products company’s stock after selling 2,564 shares during the period. DnB Asset Management AS’s holdings in Parker-Hannifin were worth $38,409,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PH. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin in the 4th quarter valued at approximately $25,000. Millstone Evans Group LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $30,000. Prestige Wealth Management Group LLC grew its stake in shares of Parker-Hannifin by 83.3% during the 3rd 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 purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth about $35,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PH. Stifel Nicolaus upped their target price 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. Evercore ISI upped their price target on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. KeyCorp lifted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Jefferies Financial Group boosted their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a research report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Trading Down 1.7 %

Shares of NYSE PH opened at $626.76 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market cap of $80.68 billion, a price-to-earnings ratio of 25.94, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The business has a fifty day simple moving average of $659.79 and a 200-day simple moving average of $653.92.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating the consensus estimate 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 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

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.