Huntington National Bank Trims Stake in Parker-Hannifin Co. (NYSE:PH)

Huntington National Bank lessened its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 160,347 shares of the industrial products company’s stock after selling 4,643 shares during the quarter. Huntington National Bank owned approximately 0.12% of Parker-Hannifin worth $101,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PH. Kesler Norman & Wride LLC grew its holdings in Parker-Hannifin by 0.7% during the fourth quarter. Kesler Norman & Wride LLC now owns 9,468 shares of the industrial products company’s stock valued at $6,023,000 after purchasing an additional 63 shares during the period. RFG Bristol Wealth Advisors LLC bought a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $212,000. Groupama Asset Managment increased its holdings in Parker-Hannifin by 7.3% in the 4th quarter. Groupama Asset Managment now owns 142,595 shares of the industrial products company’s stock worth $90,807,000 after acquiring an additional 9,755 shares in the last quarter. Geode Capital Management LLC raised its stake in Parker-Hannifin by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company’s stock worth $1,699,580,000 after acquiring an additional 99,261 shares during the period. Finally, Diametric Capital LP lifted its holdings in Parker-Hannifin by 44.0% during the fourth quarter. Diametric Capital LP now owns 727 shares of the industrial products company’s stock valued at $462,000 after purchasing an additional 222 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented 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. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research note on Thursday, December 12th. Evercore ISI lifted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. UBS Group lowered their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Jefferies Financial Group increased their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $609.53 on Wednesday. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $655.77 and a 200-day moving average price of $655.35. The firm has a market capitalization of $78.46 billion, a PE ratio of 25.23, a price-to-earnings-growth 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 return on equity of 27.34% and a net margin of 15.87%. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date 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.