Capital World Investors Makes New $418.17 Million Investment in Parker-Hannifin Co. (NYSE:PH)

Capital World Investors bought a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 657,475 shares of the industrial products company's stock, valued at approximately $418,174,000. Capital World Investors owned 0.51% of Parker-Hannifin at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC bought a new position in Parker-Hannifin in the 4th quarter valued at approximately $30,000. Bank of New Hampshire bought a new position in shares of Parker-Hannifin during the fourth quarter valued at $35,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at $40,000. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PH has been the topic of a number of recent analyst reports. Evercore ISI raised their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. KeyCorp decreased their target price on shares of Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Wells Fargo & Company raised their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, StockNews.com lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $705.35.

Parker-Hannifin Price Performance

Shares of NYSE PH traded up $0.30 during mid-day trading on Friday, reaching $597.11. The company's stock had a trading volume of 220,874 shares, compared to its average volume of 713,411. The stock has a fifty day moving average of $609.54 and a two-hundred day moving average of $646.88. The firm has a market capitalization of $76.86 billion, a PE ratio of 24.76, a P/E/G ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week 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.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be paid a dividend of $1.80 per share. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a yield of 1.21%. Parker-Hannifin's dividend payout ratio is presently 26.99%.

About Parker-Hannifin

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.