Ancora Advisors LLC Acquires 1,216 Shares of Parker-Hannifin Co. (NYSE:PH)

Ancora Advisors LLC increased its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 11.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,392 shares of the industrial products company's stock after purchasing an additional 1,216 shares during the quarter. Ancora Advisors LLC's holdings in Parker-Hannifin were worth $7,245,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in shares of Parker-Hannifin by 39.2% in the 3rd 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 during the period. Howard Capital Management Group LLC bought a new position in shares of Parker-Hannifin during the 4th quarter valued at about $23,390,000. SG Americas Securities LLC grew its position in 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 worth $15,507,000 after buying an additional 21,521 shares during the last quarter. Columbus Macro LLC raised 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 worth $6,838,000 after purchasing an additional 8,914 shares during the period. Finally, Congress Asset Management Co. lifted its stake 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 valued at $121,292,000 after buying an additional 25,605 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Buying and Selling

In other news, VP Jay Reidy sold 150 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the transaction, the vice president now owns 2,083 shares in the company, valued at $1,292,230.71. This trade represents a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on PH shares. KeyCorp raised their target price on Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday. Barclays cut their price objective on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. StockNews.com lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Citigroup lowered their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Stifel Nicolaus upped their price target on Parker-Hannifin from $564.00 to $630.00 and gave the company a "hold" rating in a report on Friday. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $711.88.

Parker-Hannifin Price Performance

Shares of PH traded down $1.49 during mid-day trading on Tuesday, hitting $615.08. 603,791 shares of the company traded hands, compared to its average volume of 713,874. The business has a 50-day moving average of $599.04 and a 200 day moving average of $645.38. The stock has a market capitalization of $79.17 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a one year low of $488.45 and a one year 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.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Parker-Hannifin's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $6.51 EPS. As a group, equities analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a dividend of $1.80 per share. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.17%. The ex-dividend date is Friday, May 9th. Parker-Hannifin's dividend payout ratio (DPR) is 27.72%.

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.