Waterloo Capital L.P. Lowers Stock Position in Parker-Hannifin Co. (NYSE:PH)

Waterloo Capital L.P. decreased its stake in Parker-Hannifin Co. (NYSE:PH) by 17.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 626 shares of the industrial products company’s stock after selling 128 shares during the period. Waterloo Capital L.P.’s holdings in Parker-Hannifin were worth $398,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PH. Vanguard Group Inc. increased its stake in Parker-Hannifin by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company’s stock valued at $6,903,962,000 after acquiring an additional 111,406 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Parker-Hannifin by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company’s stock worth $1,699,580,000 after purchasing an additional 99,261 shares in the last quarter. Norges Bank bought a new position in shares of Parker-Hannifin during the 4th quarter valued at about $1,106,132,000. Proficio Capital Partners LLC raised its holdings in shares of Parker-Hannifin by 116,370.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after buying an additional 1,139,265 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Parker-Hannifin by 41.1% in the 4th quarter. Franklin Resources Inc. now owns 911,075 shares of the industrial products company’s stock worth $579,471,000 after buying an additional 265,559 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PH shares. Barclays reduced their price target 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. UBS Group reduced their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Citigroup initiated coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 price target for the company. Wolfe Research downgraded Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Finally, StockNews.com lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Up 2.7 %

Shares of Parker-Hannifin stock opened at $531.20 on Tuesday. The company’s fifty day simple moving average is $646.55 and its two-hundred day simple moving average is $653.92. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-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 company has a market cap of $68.38 billion, a P/E ratio of 21.99, a PEG ratio of 2.85 and a beta of 1.39.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating 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%. Research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued 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 (DPR) is 26.99%.

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.