Chevy Chase Trust Holdings LLC Sells 1,372 Shares of Parker-Hannifin Co. (NYSE:PH)

Chevy Chase Trust Holdings LLC decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,797 shares of the industrial products company’s stock after selling 1,372 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Parker-Hannifin worth $43,121,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Banque Pictet & Cie SA lifted its position in shares of Parker-Hannifin by 8.8% in the 4th quarter. Banque Pictet & Cie SA now owns 3,690 shares of the industrial products company’s stock worth $2,347,000 after acquiring an additional 300 shares during the period. First Merchants Corp lifted its position in shares of Parker-Hannifin by 6.3% in the 4th quarter. First Merchants Corp now owns 590 shares of the industrial products company’s stock worth $375,000 after acquiring an additional 35 shares during the period. Catalyst Financial Partners LLC lifted its position in shares of Parker-Hannifin by 5.1% in the 4th quarter. Catalyst Financial Partners LLC now owns 409 shares of the industrial products company’s stock worth $260,000 after acquiring an additional 20 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of Parker-Hannifin by 1.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 50,906 shares of the industrial products company’s stock worth $32,774,000 after acquiring an additional 838 shares during the period. Finally, Avestar Capital LLC lifted its position in shares of Parker-Hannifin by 39.1% in the 4th quarter. Avestar Capital LLC now owns 897 shares of the industrial products company’s stock worth $571,000 after acquiring an additional 252 shares during the period. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on PH. TD Cowen raised their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Jefferies Financial Group raised their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. KeyCorp increased their target price on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Finally, 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. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $729.18.

Parker-Hannifin Trading Up 0.9 %

PH stock opened at $700.13 on Friday. The business has a fifty day moving average price of $664.39 and a 200 day moving average price of $638.17. The stock has a market capitalization of $90.12 billion, a price-to-earnings ratio of 28.98, a P/E/G ratio of 2.84 and a beta of 1.45. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

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 return on equity of 27.34% and a net margin of 15.87%. Analysts expect that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

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.