Parker-Hannifin Co. (NYSE:PH) Shares Sold by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC reduced its position in Parker-Hannifin Co. (NYSE:PH) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 49,531 shares of the industrial products company’s stock after selling 348 shares during the quarter. Parker-Hannifin comprises approximately 4.2% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 8th largest position. Minneapolis Portfolio Management Group LLC’s holdings in Parker-Hannifin were worth $31,503,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth about $25,000. Millstone Evans Group LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth about $30,000. Prestige Wealth Management Group LLC grew its position in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new position in shares of Parker-Hannifin during the fourth quarter worth about $35,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth about $40,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $622.79 on Monday. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The business has a 50 day simple moving average of $660.60 and a 200-day simple moving average of $653.19. The stock has a market capitalization of $80.17 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results 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 return on equity of 27.34% and a net margin of 15.87%. Equities analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PH. Stifel Nicolaus boosted 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. StockNews.com cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Wells Fargo & Company boosted their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a research note on Thursday, December 12th. Finally, Evercore ISI boosted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $736.65.

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.