Harbour Investments Inc. Has $933,000 Position in Parker-Hannifin Co. (NYSE:PH)

Harbour Investments Inc. lessened its position in shares of Parker-Hannifin Co. (NYSE:PH) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,467 shares of the industrial products company’s stock after selling 44 shares during the period. Harbour Investments Inc.’s holdings in Parker-Hannifin were worth $933,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Franklin Resources Inc. raised its stake in Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after acquiring an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $23,390,000. SG Americas Securities LLC lifted its stake in Parker-Hannifin by 752.5% in the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock valued at $15,507,000 after purchasing an additional 21,521 shares during the last quarter. Columbus Macro LLC boosted its position in Parker-Hannifin by 485.2% in the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock valued at $6,838,000 after buying an additional 8,914 shares in the last quarter. Finally, Congress Asset Management Co. grew its stake in shares of Parker-Hannifin by 15.5% during the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock worth $121,292,000 after buying an additional 25,605 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 2.2 %

Parker-Hannifin stock opened at $629.93 on Thursday. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month 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. The company has a market capitalization of $81.08 billion, a PE ratio of 26.07, a PEG ratio of 2.85 and a beta of 1.50. The firm’s fifty day moving average is $661.07 and its 200 day moving average is $652.16.

Parker-Hannifin (NYSE:PH) last issued 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%. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.04%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PH. Barclays dropped their price target on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Evercore ISI lifted their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Wells Fargo & Company upped 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. KeyCorp lifted their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

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.