Dover Advisors LLC Reduces Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Dover Advisors LLC decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,868 shares of the industrial products company’s stock after selling 60 shares during the period. Dover Advisors LLC’s holdings in Parker-Hannifin were worth $1,824,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings in Parker-Hannifin by 39.2% in the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock valued at $415,409,000 after purchasing an additional 181,859 shares during the period. Howard Capital Management Group LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at approximately $23,390,000. SG Americas Securities LLC raised its stake in Parker-Hannifin by 752.5% during the fourth quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock valued at $15,507,000 after buying an additional 21,521 shares in the last quarter. Columbus Macro LLC grew its position in shares of Parker-Hannifin by 485.2% during the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock valued at $6,838,000 after buying an additional 8,914 shares during the last quarter. Finally, Wilkinson Global Asset Management LLC increased its position in Parker-Hannifin by 59.1% in the third quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after buying an additional 14,526 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 4.1 %

PH stock opened at $667.06 on Monday. 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 Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The stock’s 50 day simple moving average is $665.56 and its 200 day simple moving average is $646.50. The company has a market cap of $85.86 billion, a P/E ratio of 27.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) 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%. On average, research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.98%. Parker-Hannifin’s payout ratio is 26.99%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. KeyCorp lifted their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Argus lifted their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Citigroup initiated coverage on Parker-Hannifin in a research report on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective for the company. Finally, Barclays reduced their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $739.06.

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.