Parker-Hannifin Co. (NYSE:PH) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd decreased its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,306 shares of the industrial products company’s stock after selling 106 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Parker-Hannifin were worth $6,554,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter worth about $25,000. Prestige Wealth Management Group LLC increased its holdings in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after buying an additional 25 shares during the last quarter. Bank of New Hampshire bought a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $40,000. Finally, Hager Investment Management Services LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.5 %

NYSE PH opened at $660.70 on Thursday. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $85.05 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The firm’s fifty day simple moving average is $665.42 and its 200-day simple moving average is $647.85.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS 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%. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 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. Shareholders of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Analysts Set New Price Targets

Several equities analysts have recently commented on PH shares. Citigroup started coverage on Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 target price for the company. Jefferies Financial Group increased their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Evercore ISI increased their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Finally, Wells Fargo & Company upped their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $739.06.

Parker-Hannifin 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.