Dimensional Fund Advisors LP Decreases Holdings in Parker-Hannifin Co. (NYSE:PH)

Dimensional Fund Advisors LP reduced its position in Parker-Hannifin Co. (NYSE:PH) by 0.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 694,288 shares of the industrial products company’s stock after selling 6,248 shares during the period. Dimensional Fund Advisors LP’s holdings in Parker-Hannifin were worth $441,609,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Anchor Investment Management LLC grew its holdings in shares of Parker-Hannifin by 10.5% during the third quarter. Anchor Investment Management LLC now owns 317 shares of the industrial products company’s stock valued at $200,000 after buying an additional 30 shares during the last quarter. Stock Yards Bank & Trust Co. acquired a new stake in Parker-Hannifin during the 3rd quarter worth about $217,000. World Investment Advisors LLC purchased a new stake in Parker-Hannifin during the 3rd quarter valued at about $584,000. Wilmington Savings Fund Society FSB increased its holdings in shares of Parker-Hannifin by 176.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 9,108 shares of the industrial products company’s stock valued at $5,755,000 after purchasing an additional 5,817 shares during the period. Finally, Tidal Investments LLC raised its stake in shares of Parker-Hannifin by 10.8% in the third quarter. Tidal Investments LLC now owns 9,683 shares of the industrial products company’s stock worth $6,118,000 after purchasing an additional 946 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Up 0.3 %

PH stock opened at $561.21 on Friday. The business’s 50-day moving average is $619.17 and its 200 day moving average is $648.56. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month high of $718.44. The stock has a market cap of $72.24 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 2.85 and a beta of 1.39. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last issued its quarterly 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 return on equity of 27.34% and a net margin of 15.87%. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.16%. Parker-Hannifin’s payout ratio is 26.99%.

Analysts Set New Price Targets

Several brokerages recently weighed in on PH. Stifel Nicolaus cut their price target on shares of Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Wolfe Research downgraded shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Barclays cut their price target on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Finally, UBS Group reduced their price objective 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. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $705.35.

Parker-Hannifin 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.