Buckingham Capital Management Inc. Cuts Position in Parker-Hannifin Co. (NYSE:PH)

Buckingham Capital Management Inc. decreased its holdings in Parker-Hannifin Co. (NYSE:PH) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,278 shares of the industrial products company’s stock after selling 193 shares during the period. Buckingham Capital Management Inc.’s holdings in Parker-Hannifin were worth $2,085,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PH. Prestige Wealth Management Group LLC grew its stake 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 in the last quarter. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Parker-Hannifin in the third quarter valued at about $39,000. Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $40,000. Finally, Hager Investment Management Services LLC purchased a new position in Parker-Hannifin during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the topic of several recent analyst reports. Robert W. Baird upped their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. KeyCorp increased their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Finally, TD Cowen lifted their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $700.13 on Tuesday. The stock has a market capitalization of $90.12 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 2.84 and a beta of 1.45. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The firm has a fifty day simple moving average of $664.47 and a 200-day simple moving average of $640.39. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts expect that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

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.