Wakefield Asset Management LLLP Raises Holdings in Parker-Hannifin Co. (NYSE:PH)

Wakefield Asset Management LLLP grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 710 shares of the industrial products company’s stock after purchasing an additional 46 shares during the quarter. Wakefield Asset Management LLLP’s holdings in Parker-Hannifin were worth $452,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PH. State Street Corp increased its holdings in Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after buying an additional 753,143 shares during the last quarter. FMR LLC grew its holdings in Parker-Hannifin by 7.1% in the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after buying an additional 272,531 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Parker-Hannifin by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock valued at $1,623,689,000 after purchasing an additional 29,408 shares during the period. Wellington Management Group LLP lifted its stake in shares of 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 acquiring an additional 564,365 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Parker-Hannifin by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock worth $1,007,102,000 after purchasing an additional 59,432 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PH. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. KeyCorp boosted their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. 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 research report on Wednesday, February 19th. Wells Fargo & Company increased their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group upped their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $655.12 on Friday. The firm has a fifty day simple moving average of $665.73 and a two-hundred day simple moving average of $647.90. 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 Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The company has a market capitalization of $84.33 billion, a PE ratio of 27.12, a P/E/G ratio of 2.85 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating 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%. Research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.00%. Parker-Hannifin’s payout ratio is presently 26.99%.

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.