Standard Life Aberdeen plc decreased its holdings in Parker-Hannifin Corp (NYSE:PH) by 33.7% during the 4th quarter, HoldingsChannel reports. The fund owned 84,655 shares of the industrial products company’s stock after selling 43,126 shares during the quarter. Standard Life Aberdeen plc’s holdings in Parker-Hannifin were worth $16,897,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in PH. San Francisco Sentry Investment Group CA lifted its position in Parker-Hannifin by 139.3% in the 4th quarter. San Francisco Sentry Investment Group CA now owns 579 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 337 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in Parker-Hannifin in the 3rd quarter valued at about $168,000. SeaCrest Wealth Management LLC purchased a new stake in Parker-Hannifin in the 4th quarter valued at about $197,000. Tiedemann Wealth Management LLC increased its stake in Parker-Hannifin by 95.6% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 3,050 shares of the industrial products company’s stock valued at $201,000 after buying an additional 1,491 shares during the last quarter. Finally, Parametrica Management Ltd purchased a new stake in Parker-Hannifin in the 3rd quarter valued at about $202,000. 78.42% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on PH shares. Zacks Investment Research upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating and set a $208.00 price objective for the company in a research note on Tuesday, November 7th. BMO Capital Markets increased their price objective on shares of Parker-Hannifin from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, November 6th. Robert W. Baird increased their price objective on shares of Parker-Hannifin from $183.00 to $194.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Cowen reiterated a “hold” rating and issued a $180.00 price objective on shares of Parker-Hannifin in a research note on Wednesday, January 10th. Finally, Wells Fargo & Co increased their price objective on shares of Parker-Hannifin from $205.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $202.06.
Shares of Parker-Hannifin Corp (PH) opened at $181.89 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.99 and a current ratio of 1.49. Parker-Hannifin Corp has a one year low of $151.17 and a one year high of $212.80. The stock has a market cap of $24,687.15, a P/E ratio of 20.73, a PEG ratio of 1.60 and a beta of 1.31.
Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.08. Parker-Hannifin had a net margin of 6.54% and a return on equity of 23.15%. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter last year, the business posted $1.91 EPS. Parker-Hannifin’s quarterly revenue was up 26.2% compared to the same quarter last year. research analysts expect that Parker-Hannifin Corp will post 9.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.64 annualized dividend and a dividend yield of 1.45%. Parker-Hannifin’s payout ratio is currently 41.19%.
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Parker-Hannifin Company Profile
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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