Parker-Hannifin Co. (NYSE:PH) Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 13.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,600 shares of the industrial products company’s stock after selling 400 shares during the quarter. Erste Asset Management GmbH’s holdings in Parker-Hannifin were worth $1,674,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Tredje AP fonden increased its stake in shares of Parker-Hannifin by 11.9% in the fourth quarter. Tredje AP fonden now owns 54,842 shares of the industrial products company’s stock valued at $34,881,000 after purchasing an additional 5,820 shares during the period. Vestcor Inc grew its holdings in Parker-Hannifin by 17.6% in the 4th quarter. Vestcor Inc now owns 5,867 shares of the industrial products company’s stock worth $3,732,000 after buying an additional 876 shares in the last quarter. Avantax Advisory Services Inc. increased its position in Parker-Hannifin by 1.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 9,616 shares of the industrial products company’s stock valued at $6,116,000 after acquiring an additional 156 shares during the period. Farther Finance Advisors LLC raised its stake in Parker-Hannifin by 4.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,261 shares of the industrial products company’s stock valued at $802,000 after acquiring an additional 49 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Parker-Hannifin by 60.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 684 shares of the industrial products company’s stock worth $435,000 after acquiring an additional 258 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Up 2.8 %

PH stock opened at $608.17 on Friday. The company’s 50 day simple moving average is $662.02 and its 200-day simple moving average is $651.12. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The firm has a market capitalization of $78.28 billion, a P/E ratio of 25.17, a P/E/G ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) 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%. As a group, equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

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 dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.07%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PH. UBS Group cut their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Evercore ISI boosted their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Stifel Nicolaus increased their price objective 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. Jefferies Financial Group raised their price objective 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. Finally, KeyCorp upped their target price on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

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.