TIAA Trust National Association Acquires 486 Shares of Parker-Hannifin Co. (NYSE:PH)

TIAA Trust National Association increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 1.9% during the 4th quarter, HoldingsChannel reports. The fund owned 26,459 shares of the industrial products company’s stock after buying an additional 486 shares during the period. TIAA Trust National Association’s holdings in Parker-Hannifin were worth $16,829,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PH. Kingsview Wealth Management LLC increased its holdings in shares of Parker-Hannifin by 5.1% during the third quarter. Kingsview Wealth Management LLC now owns 1,799 shares of the industrial products company’s stock valued at $1,136,000 after acquiring an additional 87 shares in the last quarter. Centaurus Financial Inc. grew its position in Parker-Hannifin by 126.2% during the 3rd quarter. Centaurus Financial Inc. now owns 683 shares of the industrial products company’s stock valued at $432,000 after purchasing an additional 381 shares during the last quarter. Fisher Asset Management LLC increased its stake in Parker-Hannifin by 3.9% during the 3rd quarter. Fisher Asset Management LLC now owns 431,801 shares of the industrial products company’s stock valued at $272,821,000 after purchasing an additional 16,063 shares in the last quarter. DRW Securities LLC purchased a new position in Parker-Hannifin in the third quarter worth about $1,037,000. Finally, Associated Banc Corp lifted its stake in shares of Parker-Hannifin by 3.5% in the third quarter. Associated Banc Corp now owns 1,618 shares of the industrial products company’s stock worth $1,022,000 after buying an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Barclays lowered their price target on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Stifel Nicolaus lifted their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Jefferies Financial Group upped their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Citigroup assumed coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Trading Up 1.4 %

Shares of PH stock opened at $651.41 on Wednesday. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The firm has a fifty day moving average price of $660.80 and a 200-day moving average price of $654.24. The company has a market cap of $83.85 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 2.85 and a beta of 1.50. 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 quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (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%. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio 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.