Carret Asset Management LLC Sells 30 Shares of Parker-Hannifin Co. (NYSE:PH)

Carret Asset Management LLC decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 0.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,070 shares of the industrial products company’s stock after selling 30 shares during the quarter. Parker-Hannifin makes up approximately 1.0% of Carret Asset Management LLC’s portfolio, making the stock its 19th biggest position. Carret Asset Management LLC’s holdings in Parker-Hannifin were worth $9,585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PH. Intact Investment Management Inc. raised its stake in Parker-Hannifin by 26.2% in the fourth quarter. Intact Investment Management Inc. now owns 2,700 shares of the industrial products company’s stock valued at $1,717,000 after buying an additional 560 shares during the last quarter. Northwest Wealth Management LLC raised its stake in Parker-Hannifin by 3.0% in the fourth quarter. Northwest Wealth Management LLC now owns 578 shares of the industrial products company’s stock valued at $367,000 after buying an additional 17 shares during the last quarter. King Wealth Management Group raised its stake in Parker-Hannifin by 14.5% in the fourth quarter. King Wealth Management Group now owns 14,024 shares of the industrial products company’s stock valued at $8,919,000 after buying an additional 1,779 shares during the last quarter. Aviso Financial Inc. purchased a new stake in Parker-Hannifin in the fourth quarter valued at about $932,000. Finally, Atala Financial Inc purchased a new stake in Parker-Hannifin in the fourth quarter valued at about $267,000. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the subject of several research analyst reports. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research note on Thursday, December 12th. KeyCorp raised their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Evercore ISI raised their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus raised their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Stock Down 3.5 %

Shares of PH opened at $591.55 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The stock has a market capitalization of $76.14 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 2.85 and a beta of 1.50. The stock has a 50 day moving average price of $662.61 and a 200 day moving average price of $651.00.

Parker-Hannifin (NYSE:PH) last issued its quarterly 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%. Equities research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Parker-Hannifin Company 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.