Invesco Ltd. grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH – Get Rating) by 12.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,164,316 shares of the industrial products company’s stock after buying an additional 125,177 shares during the period. Invesco Ltd. owned 0.91% of Parker-Hannifin worth $370,392,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC boosted its position in shares of Parker-Hannifin by 16.1% in the first quarter. FMR LLC now owns 310,712 shares of the industrial products company’s stock valued at $53,324,000 after acquiring an additional 43,094 shares during the period. Magnetar Financial LLC bought a new position in Parker-Hannifin during the third quarter worth $517,000. Vident Investment Advisory LLC grew its stake in shares of Parker-Hannifin by 12.9% in the third quarter. Vident Investment Advisory LLC now owns 12,024 shares of the industrial products company’s stock valued at $3,361,000 after acquiring an additional 1,377 shares in the last quarter. Barings LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at approximately $287,000. Finally, Sit Investment Associates Inc. increased its holdings in Parker-Hannifin by 30.8% in the 3rd quarter. Sit Investment Associates Inc. now owns 48,905 shares of the industrial products company’s stock worth $13,675,000 after purchasing an additional 11,515 shares in the last quarter. 80.55% of the stock is currently owned by institutional investors.
NYSE PH opened at $262.07 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average of $276.79 and a 200-day moving average of $298.32. The company has a market cap of $33.64 billion, a PE ratio of 20.27, a PEG ratio of 1.60 and a beta of 1.57. Parker-Hannifin Co. has a 12 month low of $253.33 and a 12 month high of $340.00.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 3rd. Shareholders of record on Friday, May 13th will be issued a dividend of $1.33 per share. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.03. This represents a $5.32 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, May 12th. Parker-Hannifin’s payout ratio is currently 41.14%.
Several analysts have recently weighed in on the stock. Barclays lowered their price objective on shares of Parker-Hannifin from $376.00 to $350.00 and set an “overweight” rating on the stock in a research report on Monday, April 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on Parker-Hannifin from $343.00 to $335.00 and set a “hold” rating on the stock in a research report on Thursday, April 14th. Mizuho cut their price target on Parker-Hannifin from $305.00 to $290.00 in a report on Friday, May 6th. Stifel Nicolaus reduced their price target on shares of Parker-Hannifin from $384.00 to $338.00 and set a “buy” rating on the stock in a research report on Monday, April 18th. Finally, Jefferies Financial Group lowered their price target on shares of Parker-Hannifin from $380.00 to $350.00 and set a “buy” rating for the company in a report on Friday, March 4th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $356.71.
In related news, Director James L. Wainscott bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The stock was purchased at an average price of $267.78 per share, for a total transaction of $535,560.00. Following the completion of the transaction, the director now owns 17,280 shares in the company, valued at $4,627,238.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James L. Wainscott bought 1,000 shares of Parker-Hannifin stock in a transaction dated Monday, May 9th. The shares were bought at an average cost of $273.44 per share, for a total transaction of $273,440.00. Following the completion of the transaction, the director now owns 18,280 shares of the company’s stock, valued at approximately $4,998,483.20. The disclosure for this purchase can be found here. 1.47% of the stock is owned by corporate insiders.
About Parker-Hannifin (Get Rating)
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 Company's Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
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