M&T Bank Corp Has $30.52 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

M&T Bank Corp cut its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,985 shares of the industrial products company’s stock after selling 1,888 shares during the period. M&T Bank Corp’s holdings in Parker-Hannifin were worth $30,520,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp grew its holdings in shares of Parker-Hannifin by 13.8% during 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 buying an additional 753,143 shares in the last quarter. FMR LLC grew its holdings in shares of Parker-Hannifin by 7.1% during the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after buying an additional 272,531 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Parker-Hannifin by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock valued at $1,623,689,000 after buying an additional 29,408 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after buying an additional 564,365 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Parker-Hannifin by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock valued at $1,007,102,000 after buying an additional 59,432 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

NYSE PH opened at $640.86 on Thursday. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month 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. The stock has a market capitalization of $82.49 billion, a PE ratio of 26.53, a P/E/G ratio of 2.85 and a beta of 1.45. The stock has a 50-day simple moving average of $665.45 and a 200 day simple moving average of $650.27.

Parker-Hannifin (NYSE:PH) last posted 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 return on equity of 27.34% and a net margin of 15.87%. Research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Analyst Ratings Changes

A number of research analysts have commented on PH shares. Barclays lowered their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Evercore ISI boosted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. KeyCorp boosted their target price on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research note on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $739.06.

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.