Financial Advisory Partners LLC Sells 61 Shares of Parker-Hannifin Co. (NYSE:PH)

Financial Advisory Partners LLC lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,162 shares of the industrial products company’s stock after selling 61 shares during the quarter. Parker-Hannifin comprises 1.5% of Financial Advisory Partners LLC’s portfolio, making the stock its 18th largest holding. Financial Advisory Partners LLC’s holdings in Parker-Hannifin were worth $4,555,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after acquiring an additional 753,143 shares during the period. FMR LLC grew its position in shares of Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after purchasing an additional 272,531 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Parker-Hannifin by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock worth $1,623,689,000 after purchasing an additional 29,408 shares during the period. Wellington Management Group LLP lifted its position in shares of Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after purchasing an additional 564,365 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Parker-Hannifin by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock valued at $1,007,102,000 after purchasing an additional 59,432 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PH. Jefferies Financial Group lifted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. StockNews.com cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Robert W. Baird upped their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Mizuho lifted their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $725.06.

Parker-Hannifin Stock Down 0.1 %

PH opened at $688.68 on Thursday. The firm has a market cap of $88.65 billion, a price-to-earnings ratio of 28.50, a PEG ratio of 2.90 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The firm’s 50-day simple moving average is $666.34 and its 200-day simple moving average is $632.61. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 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.