Canada Pension Plan Investment Board Boosts Holdings in Parker-Hannifin Co. (NYSE:PH)

Canada Pension Plan Investment Board boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 24.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 124,465 shares of the industrial products company’s stock after purchasing an additional 24,679 shares during the period. Canada Pension Plan Investment Board’s holdings in Parker-Hannifin were worth $79,163,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Anchor Investment Management LLC lifted its holdings in Parker-Hannifin by 10.5% in the third quarter. Anchor Investment Management LLC now owns 317 shares of the industrial products company’s stock valued at $200,000 after acquiring an additional 30 shares during the period. Stock Yards Bank & Trust Co. acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $217,000. World Investment Advisors LLC acquired a new stake in Parker-Hannifin during the third quarter valued at $584,000. Wilmington Savings Fund Society FSB grew its position in Parker-Hannifin by 176.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 9,108 shares of the industrial products company’s stock valued at $5,755,000 after buying an additional 5,817 shares during the period. Finally, Tidal Investments LLC increased its holdings in Parker-Hannifin by 10.8% in the third quarter. Tidal Investments LLC now owns 9,683 shares of the industrial products company’s stock valued at $6,118,000 after buying an additional 946 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PH shares. Wolfe Research cut Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Wells Fargo & Company boosted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Citigroup decreased their target price on Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a research report on Monday. UBS Group cut their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Stifel Nicolaus decreased their price objective on shares of Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating on the stock in a report on Monday. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $705.35.

Parker-Hannifin Price Performance

NYSE:PH opened at $561.21 on Friday. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44. The stock has a market cap of $72.24 billion, a PE ratio of 23.23, a P/E/G ratio of 2.85 and a beta of 1.39. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a 50 day moving average price of $621.56 and a 200 day moving average price of $648.89.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.16%. 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.