QRG Capital Management Inc. Sells 26 Shares of Parker-Hannifin Co. (NYSE:PH)

QRG Capital Management Inc. lessened its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,682 shares of the industrial products company’s stock after selling 26 shares during the quarter. QRG Capital Management Inc.’s holdings in Parker-Hannifin were worth $6,794,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new position in Parker-Hannifin in the fourth quarter worth $25,000. Prestige Wealth Management Group LLC raised 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 worth $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire bought a new position in Parker-Hannifin in the fourth quarter worth $35,000. Kestra Investment Management LLC bought a new position in Parker-Hannifin in the fourth quarter worth $40,000. Finally, Hager Investment Management Services LLC bought a new position in Parker-Hannifin in the fourth quarter worth $44,000. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PH. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Barclays cut their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. KeyCorp increased their target price on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research note on Thursday, December 12th. Finally, UBS Group cut their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Trading Up 2.3 %

Shares of NYSE:PH opened at $670.07 on Friday. The stock has a market capitalization of $86.25 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 2.85 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 stock’s 50-day simple moving average is $666.19 and its two-hundred day simple moving average is $648.61. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company 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 $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.97%. Parker-Hannifin’s payout ratio is 26.99%.

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.