Fruth Investment Management Trims Position in Parker-Hannifin Co. (NYSE:PH)

Fruth Investment Management cut its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,420 shares of the industrial products company’s stock after selling 120 shares during the period. Parker-Hannifin accounts for about 1.1% of Fruth Investment Management’s holdings, making the stock its 22nd biggest position. Fruth Investment Management’s holdings in Parker-Hannifin were worth $4,083,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bleakley Financial Group LLC grew its holdings in Parker-Hannifin by 2.1% in the fourth quarter. Bleakley Financial Group LLC now owns 2,755 shares of the industrial products company’s stock valued at $1,752,000 after purchasing an additional 56 shares during the period. Inman Jager Wealth Management LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at $212,000. Choreo LLC increased its holdings in shares of Parker-Hannifin by 6.4% during the 4th quarter. Choreo LLC now owns 7,785 shares of the industrial products company’s stock worth $4,956,000 after buying an additional 471 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Parker-Hannifin by 30.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,129 shares of the industrial products company’s stock worth $10,979,000 after buying an additional 4,030 shares during the period. Finally, Berkshire Money Management Inc. purchased a new position in shares of Parker-Hannifin in the 4th quarter worth about $351,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $688.68 on Thursday. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The company has a market cap of $88.65 billion, a P/E ratio of 28.50, a PEG ratio of 2.90 and a beta of 1.45. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average of $666.34 and a two-hundred day moving average of $632.61.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts anticipate that Parker-Hannifin Co. will post 26.67 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.95%. Parker-Hannifin’s payout ratio is 26.99%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Jefferies Financial Group boosted their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. KeyCorp increased their price objective 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. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research report on Thursday, December 12th. StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Argus boosted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $725.06.

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.