Hartford Investment Management Co. Has $5.07 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

Hartford Investment Management Co. lowered its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 1.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,977 shares of the industrial products company’s stock after selling 130 shares during the period. Hartford Investment Management Co.’s holdings in Parker-Hannifin were worth $5,074,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PH. State Street Corp raised its holdings in shares of Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after buying an additional 753,143 shares in the last quarter. Wellington Management Group LLP increased its holdings in Parker-Hannifin by 39.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after purchasing an additional 564,365 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Parker-Hannifin by 64,081.5% in the 3rd quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock worth $241,279,000 after purchasing an additional 381,285 shares in the last quarter. World Investment Advisors LLC acquired a new position in Parker-Hannifin in the 3rd quarter worth about $226,570,000. Finally, Mizuho Securities USA LLC increased its holdings in Parker-Hannifin by 3,566.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock worth $229,541,000 after purchasing an additional 353,393 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $680.72 on Wednesday. The company has a market cap of $87.62 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The business has a 50 day moving average price of $665.16 and a 200-day moving average price of $636.60. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

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, topping 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 analysts anticipate that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays lowered their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a report on Thursday, December 12th. TD Cowen upped their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Citigroup started coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 price target for the company. Finally, Argus upped their target price on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two equities 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, the company has an average rating of “Moderate Buy” and an average target price of $729.18.

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.