Los Angeles Capital Management LLC Acquires 9,863 Shares of Parker-Hannifin Co. (NYSE:PH)

Los Angeles Capital Management LLC boosted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 11.0% in the fourth quarter, HoldingsChannel reports. The fund owned 99,153 shares of the industrial products company’s stock after purchasing an additional 9,863 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Parker-Hannifin were worth $63,064,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PH. Private Advisor Group LLC lifted its position in Parker-Hannifin by 1.8% during the third quarter. Private Advisor Group LLC now owns 5,372 shares of the industrial products company’s stock valued at $3,394,000 after acquiring an additional 95 shares during the last quarter. Dakota Wealth Management raised its holdings in shares of Parker-Hannifin by 6.9% in the third quarter. Dakota Wealth Management now owns 1,088 shares of the industrial products company’s stock worth $687,000 after buying an additional 70 shares during the last quarter. Mediolanum International Funds Ltd raised its holdings in shares of Parker-Hannifin by 15.0% in the third quarter. Mediolanum International Funds Ltd now owns 2,335 shares of the industrial products company’s stock worth $1,475,000 after buying an additional 304 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Parker-Hannifin by 3.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,099 shares of the industrial products company’s stock worth $8,288,000 after buying an additional 395 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Parker-Hannifin by 1.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,753 shares of the industrial products company’s stock worth $17,535,000 after buying an additional 464 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 1.2 %

Shares of PH stock opened at $658.64 on Tuesday. 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 has a market capitalization of $84.78 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The company has a 50 day moving average price of $665.25 and a 200 day moving average price of $647.14. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly 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%. Equities research analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PH shares. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Evercore ISI raised their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. UBS Group reduced their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Finally, Barclays dropped their price target on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $739.06.

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.