Wedge Capital Management L L P NC Has $10.97 Million Position in Parker-Hannifin Co. (NYSE:PH)

Wedge Capital Management L L P NC cut its stake in Parker-Hannifin Co. (NYSE:PH) by 17.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,241 shares of the industrial products company’s stock after selling 3,705 shares during the period. Wedge Capital Management L L P NC’s holdings in Parker-Hannifin were worth $10,966,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PH. State Street Corp boosted its holdings in Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after acquiring an additional 753,143 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after buying an additional 564,365 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Parker-Hannifin by 64,081.5% during the 3rd quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock worth $241,279,000 after buying an additional 381,285 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of Parker-Hannifin during the 3rd quarter worth approximately $226,570,000. Finally, Mizuho Securities USA LLC boosted its holdings in shares of Parker-Hannifin by 3,566.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock worth $229,541,000 after buying an additional 353,393 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Up 1.8 %

NYSE PH opened at $670.75 on Friday. The firm has a market capitalization of $86.34 billion, a P/E ratio of 30.30, a PEG ratio of 2.54 and a beta of 1.45. The business has a fifty day simple moving average of $670.95 and a 200 day simple moving average of $618.53. Parker-Hannifin Co. has a 12 month low of $458.09 and a 12 month high of $712.42. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the firm posted $5.96 EPS. Parker-Hannifin’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, analysts predict that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Friday, November 8th. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Analysts Set New Price Targets

PH has been the topic of a number of research analyst reports. Robert W. Baird increased their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group increased their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Stifel Nicolaus cut Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price target on the stock. in a report on Monday, November 18th. Barclays upped their target price on Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, UBS Group began coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $722.94.

Insider Activity

In other news, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares of the company’s stock, valued at $9,686,464. The trade was a 27.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock valued at $12,303,829 in the last ninety days. 0.39% of the stock is currently owned by insiders.

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.