LGT Group Foundation Has $6.07 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

LGT Group Foundation cut its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 32.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,540 shares of the industrial products company’s stock after selling 4,515 shares during the period. LGT Group Foundation’s holdings in Parker-Hannifin were worth $6,068,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $25,000. Prestige Wealth Management Group LLC raised its position in shares of 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 in the last quarter. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $40,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $44,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

NYSE PH opened at $648.96 on Tuesday. The firm’s fifty day moving average price is $666.26 and its two-hundred day moving average price is $650.05. The stock has a market cap of $83.53 billion, a PE ratio of 26.86, a PEG ratio of 2.85 and a beta of 1.45. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. On average, equities analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.00%. Parker-Hannifin’s dividend payout ratio is 26.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PH shares. Jefferies Financial Group lifted their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Barclays decreased their price objective on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Evercore ISI lifted their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Wells Fargo & Company lifted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price 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.