Parker-Hannifin Co. (NYSE:PH) Shares Acquired by RNC Capital Management LLC

RNC Capital Management LLC grew its position in Parker-Hannifin Co. (NYSE:PH) by 7.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 730 shares of the industrial products company’s stock after acquiring an additional 50 shares during the quarter. RNC Capital Management LLC’s holdings in Parker-Hannifin were worth $464,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State Street Corp lifted its holdings in shares of Parker-Hannifin by 13.8% during the third 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 lifted its holdings in shares of Parker-Hannifin by 39.9% during the third 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. International Assets Investment Management LLC lifted its holdings in shares of Parker-Hannifin by 64,081.5% during the third 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 during the period. World Investment Advisors LLC acquired a new stake in shares of Parker-Hannifin during the third quarter worth $226,570,000. Finally, Mizuho Securities USA LLC lifted its holdings 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 worth $229,541,000 after purchasing an additional 353,393 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Stifel Nicolaus increased their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. UBS Group cut their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Argus increased their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, StockNews.com cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $725.06.

Parker-Hannifin Trading Up 0.4 %

Parker-Hannifin stock opened at $691.65 on Friday. The stock has a market cap of $89.03 billion, a PE ratio of 28.63, a P/E/G ratio of 2.90 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 company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $666.12 and a 200 day moving average price of $633.00.

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 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 research analysts predict that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. Parker-Hannifin’s payout ratio is currently 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.