iA Global Asset Management Inc. Sells 4,642 Shares of Parker-Hannifin Co. (NYSE:PH)

iA Global Asset Management Inc. decreased its holdings in Parker-Hannifin Co. (NYSE:PH) by 23.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,000 shares of the industrial products company’s stock after selling 4,642 shares during the period. iA Global Asset Management Inc.’s holdings in Parker-Hannifin were worth $9,540,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Magnetar Financial LLC bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $5,584,000. TAP Consulting LLC boosted its stake in shares of Parker-Hannifin by 1.5% in the fourth quarter. TAP Consulting LLC now owns 3,973 shares of the industrial products company’s stock worth $2,527,000 after acquiring an additional 58 shares during the period. Royal London Asset Management Ltd. boosted its stake in Parker-Hannifin by 0.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 53,131 shares of the industrial products company’s stock valued at $33,793,000 after buying an additional 476 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd bought a new position in Parker-Hannifin during the fourth quarter valued at approximately $3,657,000. Finally, Vinva Investment Management Ltd boosted its stake in Parker-Hannifin by 6.8% during the fourth quarter. Vinva Investment Management Ltd now owns 6,407 shares of the industrial products company’s stock valued at $4,080,000 after buying an additional 410 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. KeyCorp increased their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company increased their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research note on Thursday, December 12th. Evercore ISI upped their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, UBS Group decreased their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Trading Up 2.2 %

Shares of NYSE PH opened at $629.93 on Thursday. The business’s 50 day moving average price is $661.07 and its 200-day moving average price is $652.16. The company has a market cap of $81.08 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 2.85 and a beta of 1.50. 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 released its quarterly earnings data 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 return on equity of 27.34% and a net margin of 15.87%. On average, sell-side analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.04%. Parker-Hannifin’s payout ratio is currently 26.99%.

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.