Parker-Hannifin Co. (NYSE:PH) Stake Decreased by Securian Asset Management Inc.

Securian Asset Management Inc. cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,935 shares of the industrial products company’s stock after selling 183 shares during the period. Securian Asset Management Inc.’s holdings in Parker-Hannifin were worth $4,411,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC bought a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $220,000. Axxcess Wealth Management LLC acquired a new position in shares of Parker-Hannifin during the third quarter valued at approximately $441,000. Venturi Wealth Management LLC raised its holdings in Parker-Hannifin by 59.8% during the third quarter. Venturi Wealth Management LLC now owns 278 shares of the industrial products company’s stock worth $176,000 after purchasing an additional 104 shares in the last quarter. Harbour Investments Inc. lifted its position in Parker-Hannifin by 100.4% in the third quarter. Harbour Investments Inc. now owns 1,511 shares of the industrial products company’s stock worth $955,000 after purchasing an additional 757 shares during the period. Finally, Verus Capital Partners LLC boosted its stake in Parker-Hannifin by 11.3% during the 3rd quarter. Verus Capital Partners LLC now owns 1,468 shares of the industrial products company’s stock valued at $928,000 after purchasing an additional 149 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $613.81 on Thursday. The stock has a market cap of $79.01 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $663.37 and a 200-day simple moving average of $651.41.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.06%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PH. Citigroup began coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective on the stock. KeyCorp boosted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Jefferies Financial Group boosted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Evercore ISI increased their target price 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. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $736.65.

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.