Loomis Sayles & Co. L P Lowers Position in Parker-Hannifin Co. (NYSE:PH)

Loomis Sayles & Co. L P cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 7.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 513,007 shares of the industrial products company’s stock after selling 43,171 shares during the period. Loomis Sayles & Co. L P owned approximately 0.40% of Parker-Hannifin worth $326,288,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. AssuredPartners Investment Advisors LLC purchased a new stake in Parker-Hannifin during the 4th quarter worth approximately $604,000. NEOS Investment Management LLC raised its holdings in shares of Parker-Hannifin by 24.6% during the 4th quarter. NEOS Investment Management LLC now owns 14,403 shares of the industrial products company’s stock worth $9,161,000 after acquiring an additional 2,846 shares during the period. UniSuper Management Pty Ltd grew its holdings in shares of Parker-Hannifin by 23.8% in the fourth quarter. UniSuper Management Pty Ltd now owns 8,732 shares of the industrial products company’s stock valued at $5,554,000 after purchasing an additional 1,681 shares during the period. Moment Partners LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $267,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Parker-Hannifin by 8.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 209,123 shares of the industrial products company’s stock valued at $133,371,000 after purchasing an additional 16,034 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Down 2.2 %

Shares of Parker-Hannifin stock opened at $636.82 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 current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The stock has a market cap of $81.97 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The company has a fifty day moving average price of $660.41 and a 200 day moving average price of $654.11.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Equities research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research note on Thursday, December 12th. KeyCorp lifted their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Jefferies Financial Group raised their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Citigroup initiated coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 target price for the company. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $736.65.

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.