Lowe Brockenbrough & Co. Inc. Sells 102 Shares of Parker-Hannifin Co. (NYSE:PH)

Lowe Brockenbrough & Co. Inc. trimmed its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,800 shares of the industrial products company’s stock after selling 102 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Parker-Hannifin were worth $4,961,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PH. Franklin Resources Inc. boosted its holdings 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 purchasing an additional 181,859 shares during the last quarter. Howard Capital Management Group LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $23,390,000. SG Americas Securities LLC grew its holdings in shares of Parker-Hannifin by 752.5% in the fourth quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock valued at $15,507,000 after acquiring an additional 21,521 shares in the last quarter. Columbus Macro LLC increased its position in shares of Parker-Hannifin by 485.2% during the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock valued at $6,838,000 after acquiring an additional 8,914 shares during the last quarter. Finally, Congress Asset Management Co. lifted its holdings in 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 acquiring an additional 25,605 shares during the period. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PH. Wells Fargo & Company raised their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. KeyCorp raised their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Barclays dropped their target price on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research note on Thursday, December 12th. Finally, UBS Group dropped their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Performance

NYSE:PH opened at $624.61 on Friday. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The business’s fifty day moving average is $660.75 and its 200 day moving average is $651.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The firm has a market cap of $80.40 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Research analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

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 $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.04%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Parker-Hannifin 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.