QRG Capital Management Inc. Sells 26 Shares of Parker-Hannifin Co. (NYSE:PH)

QRG Capital Management Inc. lowered its stake in Parker-Hannifin Co. (NYSE:PH) by 0.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 10,682 shares of the industrial products company’s stock after selling 26 shares during the quarter. QRG Capital Management Inc.’s holdings in Parker-Hannifin were worth $6,794,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $25,000. Prestige Wealth Management Group LLC raised its stake in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares during the period. Bank of New Hampshire bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $35,000. Kestra Investment Management LLC bought a new stake in Parker-Hannifin during the 4th quarter valued at approximately $40,000. Finally, Hager Investment Management Services LLC bought a new stake in Parker-Hannifin during the 4th quarter valued at approximately $44,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $670.07 on Friday. The stock has a market cap of $86.25 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. 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 $666.19 and a 200-day moving average price of $648.61. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44.

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

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is currently 26.99%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PH. Evercore ISI lifted 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. Jefferies Financial Group lifted their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research note on Thursday, December 12th. Citigroup began coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. Finally, KeyCorp lifted their target price on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $739.06.

About Parker-Hannifin

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.