Joseph Group Capital Management Sells 496 Shares of Parker-Hannifin Co. (NYSE:PH)

Joseph Group Capital Management lowered its position in Parker-Hannifin Co. (NYSE:PH) by 7.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,446 shares of the industrial products company’s stock after selling 496 shares during the period. Parker-Hannifin comprises approximately 1.6% of Joseph Group Capital Management’s holdings, making the stock its 20th largest position. Joseph Group Capital Management’s holdings in Parker-Hannifin were worth $4,100,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new position in shares of Parker-Hannifin in the fourth quarter worth $1,106,132,000. Proficio Capital Partners LLC increased its holdings in shares of Parker-Hannifin by 116,370.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock worth $725,229,000 after purchasing an additional 1,139,265 shares during the last quarter. State Street Corp raised its holdings in shares of Parker-Hannifin by 13.8% during 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 in the last quarter. Wellington Management Group LLP raised its stake in Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after purchasing an additional 564,365 shares in the last quarter. Finally, World Investment Advisors LLC bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth about $226,570,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 4.1 %

Shares of Parker-Hannifin stock opened at $600.78 on Friday. 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 stock has a market cap of $77.33 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 2.85 and a beta of 1.50. The firm’s 50-day moving average is $658.39 and its two-hundred day moving average is $654.58. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

Analysts Set New Price Targets

PH has been the subject of several recent research reports. Citigroup assumed coverage on Parker-Hannifin in a research report on Friday, February 7th. They issued a “buy” rating and a $795.00 price target for the company. KeyCorp raised their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Wolfe Research raised shares of 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. Jefferies Financial Group increased their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company lifted their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

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.