Parker-Hannifin Co. (NYSE:PH) is AMF Tjanstepension AB’s 10th Largest Position

AMF Tjanstepension AB cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 29.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 463,709 shares of the industrial products company’s stock after selling 195,696 shares during the quarter. Parker-Hannifin makes up approximately 2.1% of AMF Tjanstepension AB’s portfolio, making the stock its 10th largest holding. AMF Tjanstepension AB owned 0.36% of Parker-Hannifin worth $294,978,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC grew its position in shares of Parker-Hannifin by 116,370.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after purchasing an additional 1,139,265 shares in the last quarter. State Street Corp boosted its stake in Parker-Hannifin by 13.8% in 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 purchasing an additional 753,143 shares during the period. Wellington Management Group LLP boosted its stake 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 during the period. World Investment Advisors LLC purchased a new position in Parker-Hannifin during the 3rd quarter valued at about $226,570,000. Finally, Mizuho Securities USA LLC increased its position in shares of Parker-Hannifin by 3,566.4% during the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after buying an additional 353,393 shares during the period. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. 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 target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Citigroup initiated coverage on Parker-Hannifin in a research report on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Barclays cut their price target 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. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $739.06.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $635.57 on Friday. The company has a market cap of $81.81 billion, a PE ratio of 26.31, a P/E/G ratio of 2.85 and a beta of 1.45. The business has a 50 day moving average of $664.88 and a 200 day moving average of $650.47. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week 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.

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 net margin of 15.87% and a return on equity of 27.34%. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.03%. Parker-Hannifin’s payout ratio is 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.