Signature Estate & Investment Advisors LLC Trims Stake in Parker-Hannifin Co. (NYSE:PH)

Signature Estate & Investment Advisors LLC lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,443 shares of the industrial products company’s stock after selling 16 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Parker-Hannifin were worth $918,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several analysts have recently issued reports on PH shares. KeyCorp upped their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group lowered their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Wells Fargo & Company lifted their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. 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. Finally, Evercore ISI boosted their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Performance

PH stock opened at $651.41 on Wednesday. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The company has a market capitalization of $83.85 billion, a P/E ratio of 26.96, a PEG ratio of 2.85 and a beta of 1.50. The business has a 50-day moving average price of $660.80 and a 200 day moving average price of $654.24.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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%. As a group, equities research analysts forecast 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. Stockholders of record on Friday, February 7th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s payout ratio is currently 26.99%.

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.