Pinnacle Wealth Planning Services Inc. Sells 275 Shares of Parker-Hannifin Co. (NYSE:PH)

Pinnacle Wealth Planning Services Inc. trimmed its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 14.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,610 shares of the industrial products company’s stock after selling 275 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Parker-Hannifin were worth $1,024,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PH. Lindbrook Capital LLC increased its position in shares of Parker-Hannifin by 2.5% during the 4th quarter. Lindbrook Capital LLC now owns 1,794 shares of the industrial products company’s stock worth $1,141,000 after purchasing an additional 44 shares in the last quarter. Townsend Asset Management Corp NC ADV increased its position in shares of Parker-Hannifin by 14.5% during the 4th quarter. Townsend Asset Management Corp NC ADV now owns 6,099 shares of the industrial products company’s stock worth $3,879,000 after purchasing an additional 774 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth about $175,739,000. Promus Capital LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth about $69,000. Finally, Cullen Frost Bankers Inc. increased its position in shares of Parker-Hannifin by 76.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 118 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 51 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PH shares. Evercore ISI increased their target price on shares of 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 price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. KeyCorp raised their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, TD Cowen raised their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $739.06.

Parker-Hannifin Stock Up 2.6 %

Shares of NYSE:PH opened at $640.86 on Thursday. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The company has a 50 day moving average of $665.45 and a 200-day moving average of $650.27. 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 stock has a market cap of $82.49 billion, a price-to-earnings ratio of 26.53, a P/E/G ratio of 2.85 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released 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, sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, February 7th. 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.