Parker-Hannifin Co. (NYSE:PH) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC cut its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 6.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,505 shares of the industrial products company’s stock after selling 99 shares during the quarter. Cannell & Spears LLC’s holdings in Parker-Hannifin were worth $957,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PH. Meeder Asset Management Inc. increased its holdings in Parker-Hannifin by 214.3% in the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock valued at $42,000 after buying an additional 45 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Parker-Hannifin by 10.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 321 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 30 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in shares of Parker-Hannifin by 7.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 37,185 shares of the industrial products company’s stock worth $23,651,000 after acquiring an additional 2,498 shares during the period. Clearbridge Investments LLC raised its holdings in Parker-Hannifin by 1.5% during the fourth quarter. Clearbridge Investments LLC now owns 213,207 shares of the industrial products company’s stock worth $135,606,000 after purchasing an additional 3,194 shares during the last quarter. Finally, Physician Wealth Advisors Inc. purchased a new stake in Parker-Hannifin during the fourth quarter worth $80,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the subject of a number of research analyst reports. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research report on Thursday, December 12th. StockNews.com cut shares of 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 shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Barclays dropped their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Finally, KeyCorp upped their target price on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $608.33 on Tuesday. The firm has a market capitalization of $78.30 billion, a P/E ratio of 25.18, a PEG ratio of 2.85 and a beta of 1.50. The stock has a fifty day moving average price of $657.14 and a 200 day moving average price of $655.22. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week 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.

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

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.07%. Parker-Hannifin’s dividend payout ratio is presently 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.