B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,375 shares of the industrial products company’s stock, valued at approximately $2,285,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Manning & Napier Group LLC raised its position in shares of Parker-Hannifin by 2.5% during the fourth quarter. Manning & Napier Group LLC now owns 46,956 shares of the industrial products company’s stock worth $12,790,000 after acquiring an additional 1,148 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Parker-Hannifin by 0.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,961,182 shares of the industrial products company’s stock worth $534,246,000 after acquiring an additional 14,687 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Parker-Hannifin by 3.9% during the fourth quarter. California Public Employees Retirement System now owns 306,703 shares of the industrial products company’s stock worth $83,549,000 after acquiring an additional 11,653 shares during the last quarter. Morgan Stanley grew its stake in Parker-Hannifin by 49.3% during the fourth quarter. Morgan Stanley now owns 923,250 shares of the industrial products company’s stock worth $251,502,000 after purchasing an additional 305,037 shares during the period. Finally, CENTRAL TRUST Co grew its stake in Parker-Hannifin by 221.8% during the fourth quarter. CENTRAL TRUST Co now owns 737 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 508 shares during the period. Institutional investors own 77.44% of the company’s stock.
PH has been the subject of several recent analyst reports. Vertical Research raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Monday, February 22nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on Parker-Hannifin from $305.00 to $340.00 in a research note on Tuesday, March 16th. Citigroup raised their target price on Parker-Hannifin from $305.00 to $340.00 in a research note on Tuesday, March 16th. Jefferies Financial Group raised their target price on Parker-Hannifin from $280.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, January 15th. Finally, Morgan Stanley raised their target price on Parker-Hannifin from $317.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, March 29th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $308.36.
Shares of NYSE:PH opened at $316.84 on Thursday. The stock has a market cap of $40.90 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 1.97 and a beta of 1.74. The company has a quick ratio of 0.92, a current ratio of 1.46 and a debt-to-equity ratio of 1.08. Parker-Hannifin Co. has a 12-month low of $123.32 and a 12-month high of $323.80. The business’s 50 day moving average is $302.65 and its 200 day moving average is $265.36.
Parker-Hannifin (NYSE:PH) last announced its earnings results on Wednesday, February 3rd. The industrial products company reported $3.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.60 by $0.84. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.21 billion. Parker-Hannifin had a return on equity of 22.77% and a net margin of 8.75%. Parker-Hannifin’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.54 earnings per share. As a group, equities research analysts expect that Parker-Hannifin Co. will post 12.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 5th. Investors of record on Wednesday, February 10th were given a dividend of $0.88 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $0.48. The ex-dividend date was Tuesday, February 9th. This represents a $3.52 annualized dividend and a dividend yield of 1.11%. Parker-Hannifin’s payout ratio is presently 32.62%.
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 monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
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