Legal & General Group Plc Sells 221,286 Shares of Parker-Hannifin Co. (NYSE:PH)

Legal & General Group Plc lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 23.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 733,314 shares of the industrial products company’s stock after selling 221,286 shares during the period. Legal & General Group Plc owned 0.57% of Parker-Hannifin worth $466,410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Franklin Resources Inc. grew its stake in shares of Parker-Hannifin by 39.2% during the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock valued at $415,409,000 after acquiring an additional 181,859 shares during the period. Howard Capital Management Group LLC bought a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $23,390,000. SG Americas Securities LLC increased its stake in shares of Parker-Hannifin by 752.5% in the fourth quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock worth $15,507,000 after purchasing an additional 21,521 shares in the last quarter. Columbus Macro LLC increased its stake in shares of Parker-Hannifin by 485.2% in the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock worth $6,838,000 after purchasing an additional 8,914 shares in the last quarter. Finally, Congress Asset Management Co. raised its position in shares of Parker-Hannifin by 15.5% during the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock valued at $121,292,000 after purchasing an additional 25,605 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $531.20 on Tuesday. The company’s 50-day moving average price is $646.55 and its 200-day moving average price is $653.92. 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 market cap of $68.38 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44.

Parker-Hannifin (NYSE:PH) last issued 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%. On average, equities research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.23%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wolfe Research downgraded shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. StockNews.com lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Evercore ISI lifted 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. Citigroup initiated coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 price target for the company. Finally, Barclays reduced their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Company 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.