Joseph Group Capital Management Reduces Position in Parker-Hannifin Co. (NYSE:PH)

Joseph Group Capital Management lowered its stake in Parker-Hannifin Co. (NYSE:PH) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,446 shares of the industrial products company’s stock after selling 496 shares during the period. Parker-Hannifin accounts for 1.6% of Joseph Group Capital Management’s holdings, making the stock its 20th biggest position. Joseph Group Capital Management’s holdings in Parker-Hannifin were worth $4,100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in PH. Strategy Asset Managers LLC grew its stake in Parker-Hannifin by 6.6% during the 4th quarter. Strategy Asset Managers LLC now owns 599 shares of the industrial products company’s stock valued at $381,000 after purchasing an additional 37 shares during the last quarter. Allstate Corp acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth about $2,420,000. Brown Brothers Harriman & Co. boosted its position in Parker-Hannifin by 10.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,646 shares of the industrial products company’s stock valued at $1,047,000 after buying an additional 155 shares during the last quarter. Level Four Advisory Services LLC increased its holdings in Parker-Hannifin by 6.2% in the 4th quarter. Level Four Advisory Services LLC now owns 1,086 shares of the industrial products company’s stock worth $691,000 after buying an additional 63 shares during the period. Finally, Orion Portfolio Solutions LLC raised its position in Parker-Hannifin by 1.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 4,349 shares of the industrial products company’s stock worth $2,766,000 after buying an additional 51 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Barclays reduced their price objective on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Finally, UBS Group reduced their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Trading Down 4.1 %

Shares of Parker-Hannifin stock opened at $600.78 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The firm has a market capitalization of $77.33 billion, a PE ratio of 24.87, a P/E/G ratio of 2.85 and a beta of 1.50. The firm’s 50-day moving average price is $658.39 and its 200 day moving average price is $654.58.

Parker-Hannifin (NYSE:PH) last issued its quarterly 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%. On average, sell-side analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal 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 given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is 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.