Groesbeck Investment Management Corp NJ Sells 630 Shares of Parker-Hannifin Co. (NYSE:PH)

Groesbeck Investment Management Corp NJ decreased its holdings in Parker-Hannifin Co. (NYSE:PH) by 65.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 337 shares of the industrial products company’s stock after selling 630 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Parker-Hannifin were worth $214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Czech National Bank grew its holdings in Parker-Hannifin by 6.9% in the third quarter. Czech National Bank now owns 26,185 shares of the industrial products company’s stock worth $16,544,000 after purchasing an additional 1,691 shares during the last quarter. GAMMA Investing LLC grew its holdings in Parker-Hannifin by 41.8% in the third quarter. GAMMA Investing LLC now owns 2,306 shares of the industrial products company’s stock worth $1,457,000 after purchasing an additional 680 shares during the last quarter. Diversified Trust Co grew its holdings in Parker-Hannifin by 11.4% in the third quarter. Diversified Trust Co now owns 978 shares of the industrial products company’s stock worth $618,000 after purchasing an additional 100 shares during the last quarter. Smith Anglin Financial LLC purchased a new position in Parker-Hannifin in the third quarter worth $236,000. Finally, Miracle Mile Advisors LLC grew its holdings in Parker-Hannifin by 16.0% in the third quarter. Miracle Mile Advisors LLC now owns 4,381 shares of the industrial products company’s stock worth $2,768,000 after purchasing an additional 604 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

PH has been the topic of several analyst reports. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a report on Thursday, December 12th. KeyCorp boosted their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Barclays dropped their price objective on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. StockNews.com downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Mizuho boosted their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $725.06.

Parker-Hannifin Stock Down 0.8 %

PH opened at $690.21 on Wednesday. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve 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 company has a 50-day moving average price of $666.68 and a 200 day moving average price of $631.59. The company has a market cap of $88.84 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 2.90 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results 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 net margin of 15.87% and a return on equity of 27.34%. Sell-side analysts expect that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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 paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.94%. Parker-Hannifin’s dividend payout ratio is presently 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.