BI Asset Management Fondsmaeglerselskab A S Has $5.20 Million Position in Parker-Hannifin Co. (NYSE:PH)

BI Asset Management Fondsmaeglerselskab A S trimmed its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,172 shares of the industrial products company's stock after selling 474 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Parker-Hannifin were worth $5,198,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Anchor Investment Management LLC boosted its position in shares of Parker-Hannifin by 10.5% in the third quarter. Anchor Investment Management LLC now owns 317 shares of the industrial products company's stock worth $200,000 after buying an additional 30 shares during the period. Stock Yards Bank & Trust Co. acquired a new position in shares of Parker-Hannifin during the third quarter worth $217,000. World Investment Advisors LLC acquired a new stake in Parker-Hannifin during the 3rd quarter valued at $584,000. Wilmington Savings Fund Society FSB boosted its position in Parker-Hannifin by 176.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 9,108 shares of the industrial products company's stock valued at $5,755,000 after buying an additional 5,817 shares during the last quarter. Finally, Tidal Investments LLC increased its position in shares of Parker-Hannifin by 10.8% during the third quarter. Tidal Investments LLC now owns 9,683 shares of the industrial products company's stock worth $6,118,000 after acquiring an additional 946 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded up $0.87 during trading on Friday, hitting $597.68. The stock had a trading volume of 530,407 shares, compared to its average volume of 715,241. 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 fifty day moving average of $607.62 and a two-hundred day moving average of $646.67. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The firm has a market cap of $76.93 billion, a P/E ratio of 24.74, a PEG ratio of 2.85 and a beta of 1.39.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 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%. On average, sell-side 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 disclosed 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 represents a $7.20 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio is presently 26.99%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PH shares. Stifel Nicolaus cut their target price on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Barclays dropped their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Citigroup cut their price objective on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. UBS Group reduced their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Finally, Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $705.35.

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.