Parker-Hannifin Co. (NYSE:PH) Holdings Cut by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 77.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,730 shares of the industrial products company's stock after selling 9,305 shares during the period. Cresset Asset Management LLC's holdings in Parker-Hannifin were worth $1,737,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Howard Capital Management Group LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at approximately $23,390,000. SG Americas Securities LLC grew its holdings in Parker-Hannifin by 752.5% during the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock valued at $15,507,000 after purchasing an additional 21,521 shares in the last quarter. Columbus Macro LLC increased its stake in Parker-Hannifin by 485.2% during the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock worth $6,838,000 after buying an additional 8,914 shares during the period. Congress Asset Management Co. lifted its holdings in Parker-Hannifin by 15.5% in the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock worth $121,292,000 after buying an additional 25,605 shares in the last quarter. Finally, HUB Investment Partners LLC lifted its holdings in Parker-Hannifin by 15.7% in the 4th quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company's stock worth $4,960,000 after buying an additional 1,057 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Shares of NYSE PH traded up $9.78 during trading on Tuesday, hitting $678.54. The company had a trading volume of 775,656 shares, compared to its average volume of 723,694. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44. The business's 50-day moving average is $598.95 and its 200 day moving average is $645.94. The company has a market cap of $86.70 billion, a P/E ratio of 28.09, a PEG ratio of 2.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

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

Parker-Hannifin Increases Dividend

The company 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 $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 1.06%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 9th. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.72%.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of recent analyst reports. Barclays cut their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. UBS Group cut their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Argus set a $680.00 target price on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $564.00 to $630.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. Four investment 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 company currently has a consensus rating of "Moderate Buy" and an average target price of $710.12.

Insider Transactions at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the transaction, the vice president now owns 2,083 shares in the company, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.39% of the stock is currently owned by insiders.

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.