C WorldWide Group Holding A S Sells 49,925 Shares of Parker-Hannifin Co. (NYSE:PH)

C WorldWide Group Holding A S cut its holdings in Parker-Hannifin Co. (NYSE:PH) by 7.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 644,902 shares of the industrial products company’s stock after selling 49,925 shares during the quarter. Parker-Hannifin accounts for 5.0% of C WorldWide Group Holding A S’s investment portfolio, making the stock its 7th biggest holding. C WorldWide Group Holding A S’s holdings in Parker-Hannifin were worth $410,177,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. Prestige Wealth Management Group LLC raised its position in shares of Parker-Hannifin by 83.3% during 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 during the period. Bank of New Hampshire acquired a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $40,000. Hager Investment Management Services LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $44,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $47,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 4.1 %

Shares of NYSE:PH opened at $667.06 on Monday. The company has a market capitalization of $85.86 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. 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 business has a fifty day moving average price of $665.56 and a two-hundred day moving average price of $646.50. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44.

Parker-Hannifin (NYSE:PH) last announced 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 return on equity of 27.34% and a net margin of 15.87%. Analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.98%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PH shares. Evercore ISI upped their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. UBS Group lowered their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Stifel Nicolaus upped their price target on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Citigroup assumed coverage on Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 price target for the company. Finally, Argus upped their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $739.06.

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.