Bessemer Group Inc. Sells 283 Shares of Parker-Hannifin Co. (NYSE:PH)

Bessemer Group Inc. trimmed its position in Parker-Hannifin Co. (NYSE:PH) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,858 shares of the industrial products company’s stock after selling 283 shares during the period. Bessemer Group Inc.’s holdings in Parker-Hannifin were worth $6,271,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Whipplewood Advisors LLC bought a new position in Parker-Hannifin in the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Parker-Hannifin during the 4th quarter valued at about $25,000. Millstone Evans Group LLC purchased a new position in Parker-Hannifin during the 4th quarter valued at approximately $30,000. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $35,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter worth about $40,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

PH opened at $564.78 on Friday. The firm has a fifty day moving average price of $631.27 and a 200 day moving average price of $650.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44. The stock has a market cap of $72.70 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.85 and a beta of 1.39.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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 return on equity of 27.34% and a net margin of 15.87%. Equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PH. Evercore ISI upped their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Citigroup started coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. KeyCorp lowered their price target on Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Wells Fargo & Company raised their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $720.47.

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.