Parker-Hannifin Co. (NYSE:PH) Stock Position Reduced by Aviance Capital Partners LLC

Aviance Capital Partners LLC lessened its position in shares of Parker-Hannifin Co. (NYSE:PH) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 508 shares of the industrial products company’s stock after selling 35 shares during the period. Aviance Capital Partners LLC’s holdings in Parker-Hannifin were worth $323,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PH. Whipplewood Advisors LLC bought a new position in Parker-Hannifin during the 4th quarter worth approximately $25,000. Prestige Wealth Management Group LLC lifted its holdings in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares during the last quarter. Bank of New Hampshire bought a new position in Parker-Hannifin during the 4th quarter worth approximately $35,000. Kestra Investment Management LLC bought a new position in Parker-Hannifin during the 4th quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC bought a new position in Parker-Hannifin during the 4th quarter worth approximately $44,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $635.57 on Friday. The stock has a market cap of $81.81 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The business has a fifty day simple moving average of $664.88 and a 200-day simple moving average of $650.47. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS 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, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS 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 issued a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. Parker-Hannifin’s dividend payout ratio is 26.99%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. TD Cowen increased their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Stifel Nicolaus increased their price target on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Jefferies Financial Group increased their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Finally, Citigroup initiated coverage on Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $739.06.

Parker-Hannifin 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.