PNC Financial Services Group Inc. Buys 583 Shares of Parker-Hannifin Co. (NYSE:PH)

PNC Financial Services Group Inc. boosted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 281,299 shares of the industrial products company’s stock after purchasing an additional 583 shares during the period. PNC Financial Services Group Inc.’s holdings in Parker-Hannifin were worth $178,915,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Proficio Capital Partners LLC lifted its stake in Parker-Hannifin by 116,370.3% in 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 acquiring an additional 1,139,265 shares in the last quarter. State Street Corp lifted its position in shares of Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after purchasing an additional 753,143 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after purchasing an additional 564,365 shares during the last quarter. World Investment Advisors LLC bought a new position in Parker-Hannifin in the third quarter valued at $226,570,000. Finally, Mizuho Securities USA LLC increased its stake in Parker-Hannifin by 3,566.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after buying an additional 353,393 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $635.57 on Friday. The business’s 50 day moving average is $664.88 and its 200-day moving average is $650.95. The firm has a market cap of $81.81 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year 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 earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping analysts’ consensus estimates 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 predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.03%. Parker-Hannifin’s payout ratio is presently 26.99%.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of recent research reports. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. TD Cowen boosted their price target on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Barclays dropped their price objective on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. KeyCorp raised their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $739.06.

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.