Gulf International Bank UK Ltd Sells 106 Shares of Parker-Hannifin Co. (NYSE:PH)

Gulf International Bank UK Ltd lessened its stake in Parker-Hannifin Co. (NYSE:PH) by 1.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 10,306 shares of the industrial products company’s stock after selling 106 shares during the period. Gulf International Bank UK Ltd’s holdings in Parker-Hannifin were worth $6,554,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PH. State Street Corp lifted its stake in Parker-Hannifin by 13.8% during 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 during the period. Wellington Management Group LLP lifted its stake 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 period. World Investment Advisors LLC bought a new position in Parker-Hannifin during the third quarter worth about $226,570,000. Mizuho Securities USA LLC lifted its stake in Parker-Hannifin by 3,566.4% during the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock worth $229,541,000 after purchasing an additional 353,393 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Parker-Hannifin by 176.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company’s stock worth $278,661,000 after purchasing an additional 279,480 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH stock opened at $660.70 on Thursday. The firm has a market capitalization of $85.05 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 2.85 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. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The firm has a fifty day moving average of $665.42 and a 200-day moving average of $647.85.

Parker-Hannifin (NYSE:PH) last announced 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 net margin of 15.87% and a return on equity of 27.34%. On average, equities research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.99%. Parker-Hannifin’s dividend payout ratio is 26.99%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PH. Jefferies Financial Group raised their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. UBS Group dropped their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research report on Thursday, December 12th. 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 research report on Tuesday, November 5th. Finally, TD Cowen boosted their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $739.06.

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.