Commerce Bank Sells 38 Shares of Parker-Hannifin Co. (NYSE:PH)

Commerce Bank cut its position in shares of Parker-Hannifin Co. (NYSE:PH) by 0.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 141,068 shares of the industrial products company’s stock after selling 38 shares during the period. Commerce Bank’s holdings in Parker-Hannifin were worth $89,723,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. grew its stake in shares of Parker-Hannifin by 39.2% during the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after acquiring an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC bought a new position in Parker-Hannifin in the fourth quarter valued at $23,390,000. SG Americas Securities LLC increased its stake in Parker-Hannifin by 752.5% in the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock valued at $15,507,000 after buying an additional 21,521 shares during the last quarter. Columbus Macro LLC lifted its position in Parker-Hannifin by 485.2% during the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock worth $6,838,000 after buying an additional 8,914 shares in the last quarter. Finally, Congress Asset Management Co. boosted its stake in shares of Parker-Hannifin by 15.5% during the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock worth $121,292,000 after buying an additional 25,605 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PH. UBS Group dropped their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Stifel Nicolaus cut their price objective on Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating for the company in a report on Monday. Barclays lowered their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company lifted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Citigroup dropped their target price on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $705.35.

Parker-Hannifin Stock Performance

PH opened at $561.21 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The business has a fifty day simple moving average of $621.56 and a 200 day simple moving average of $648.89. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44. The company has a market capitalization of $72.24 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39.

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

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.16%. Parker-Hannifin’s dividend payout ratio is presently 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.