MetLife Investment Management LLC Grows Stake in Parker-Hannifin Co. (NYSE:PH)

MetLife Investment Management LLC lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,058 shares of the industrial products company’s stock after buying an additional 643 shares during the quarter. MetLife Investment Management LLC’s holdings in Parker-Hannifin were worth $21,662,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norinchukin Bank The lifted its holdings in shares of Parker-Hannifin by 3.8% in the 4th quarter. Norinchukin Bank The now owns 5,157 shares of the industrial products company’s stock valued at $3,280,000 after purchasing an additional 190 shares during the last quarter. Ossiam grew its position in shares of Parker-Hannifin by 246.8% during the fourth quarter. Ossiam now owns 8,909 shares of the industrial products company’s stock worth $5,666,000 after acquiring an additional 6,340 shares during the last quarter. Capital International Inc. CA purchased a new stake in Parker-Hannifin in the 4th quarter valued at $5,247,000. Capital World Investors acquired a new stake in Parker-Hannifin during the 4th quarter worth $418,174,000. Finally, Forum Financial Management LP increased its stake in Parker-Hannifin by 2.6% in the fourth quarter. Forum Financial Management LP now owns 1,365 shares of the industrial products company’s stock valued at $868,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $561.21 on Friday. Parker-Hannifin Co. has a 1-year low of $488.45 and a 1-year high of $718.44. The firm has a 50 day simple moving average of $619.17 and a 200-day simple moving average of $648.56. The firm has a market cap of $72.24 billion, a PE ratio of 23.23, a P/E/G ratio of 2.85 and a beta of 1.39. 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 issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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, equities analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Evercore ISI boosted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Stifel Nicolaus reduced their target price on shares of Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Citigroup dropped their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Barclays lowered their price objective on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Finally, Wolfe Research downgraded Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $705.35.

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.