Parker-Hannifin Co. (NYSE:PH) Stake Decreased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its stake in Parker-Hannifin Co. (NYSE:PH) by 13.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,751 shares of the industrial products company’s stock after selling 3,282 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Parker-Hannifin were worth $13,198,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Whipplewood Advisors LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at $25,000. Prestige Wealth Management Group LLC increased its stake in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new stake in Parker-Hannifin during the 4th quarter worth about $35,000. Kestra Investment Management LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter worth about $40,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 0.8 %

Shares of PH stock opened at $655.12 on Friday. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a market cap of $84.33 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The stock has a 50 day moving average of $665.73 and a 200-day moving average of $647.90.

Parker-Hannifin (NYSE:PH) last released its earnings results 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 net margin of 15.87% and a return on equity of 27.34%. On average, equities analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is presently 26.99%.

Wall Street Analyst Weigh In

PH has been the topic of a number of research analyst reports. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a report on Thursday, December 12th. TD Cowen raised their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. Barclays decreased their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Citigroup started coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 price target on the stock. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $739.06.

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.