Woodward Diversified Capital LLC Lowers Stock Position in Parker-Hannifin Co. (NYSE:PH)

Woodward Diversified Capital LLC trimmed its position in Parker-Hannifin Co. (NYSE:PH) by 46.3% in the fourth quarter, HoldingsChannel reports. The firm owned 889 shares of the industrial products company’s stock after selling 768 shares during the quarter. Woodward Diversified Capital LLC’s holdings in Parker-Hannifin were worth $565,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PH. Golden State Wealth Management LLC bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $116,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Parker-Hannifin by 3.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,561 shares of the industrial products company’s stock worth $16,894,000 after purchasing an additional 821 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Parker-Hannifin by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 291,015 shares of the industrial products company’s stock valued at $185,094,000 after purchasing an additional 2,472 shares during the period. RNC Capital Management LLC raised its stake in shares of Parker-Hannifin by 7.4% during the 4th quarter. RNC Capital Management LLC now owns 730 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 50 shares during the period. Finally, Elm3 Financial Group LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth about $234,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PH. Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Barclays decreased their price target on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Robert W. Baird upped their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Mizuho raised their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin Price Performance

PH stock opened at $683.62 on Friday. The firm has a 50 day moving average of $665.96 and a 200-day moving average of $633.41. The firm has a market capitalization of $88.00 billion, a P/E ratio of 28.30, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month 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 announced 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 net margin of 15.87% and a return on equity of 27.34%. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm 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 $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.95%. Parker-Hannifin’s dividend 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.