Valmark Advisers Inc. Sells 121 Shares of Parker-Hannifin Co. (NYSE:PH)

Valmark Advisers Inc. trimmed its stake in Parker-Hannifin Co. (NYSE:PH) by 20.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 457 shares of the industrial products company’s stock after selling 121 shares during the quarter. Valmark Advisers Inc.’s holdings in Parker-Hannifin were worth $291,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PH. Grove Bank & Trust grew its holdings in shares of Parker-Hannifin by 11.9% in the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its position in Parker-Hannifin by 0.6% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock valued at $1,723,000 after buying an additional 16 shares in the last quarter. Everpar Advisors LLC grew its stake in Parker-Hannifin by 1.3% during the fourth quarter. Everpar Advisors LLC now owns 1,339 shares of the industrial products company’s stock worth $852,000 after buying an additional 17 shares during the last quarter. LVW Advisors LLC increased its holdings in shares of Parker-Hannifin by 0.9% during the fourth quarter. LVW Advisors LLC now owns 1,969 shares of the industrial products company’s stock worth $1,252,000 after buying an additional 17 shares in the last quarter. Finally, Tilia Fiduciary Partners Inc. increased its holdings in shares of Parker-Hannifin by 0.7% during the fourth quarter. Tilia Fiduciary Partners Inc. now owns 2,521 shares of the industrial products company’s stock worth $1,603,000 after buying an additional 18 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PH shares. Citigroup started coverage on Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 price target on the stock. Jefferies Financial Group raised their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. UBS Group reduced their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Finally, KeyCorp upped their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $729.18.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $694.13 on Wednesday. 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 cap of $89.35 billion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45. The stock’s 50-day moving average is $664.75 and its 200-day moving average is $641.55. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 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%. Equities analysts predict that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

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.