Deprince Race & Zollo Inc. Has $38.25 Million Position in Parker-Hannifin Co. (NYSE:PH)

Deprince Race & Zollo Inc. lessened its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 11.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,134 shares of the industrial products company's stock after selling 7,883 shares during the quarter. Deprince Race & Zollo Inc.'s holdings in Parker-Hannifin were worth $38,247,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. CWA Asset Management Group LLC grew its holdings in Parker-Hannifin by 26.1% in the 4th quarter. CWA Asset Management Group LLC now owns 439 shares of the industrial products company's stock valued at $279,000 after buying an additional 91 shares during the last quarter. Bank of New Hampshire bought a new position in Parker-Hannifin during the fourth quarter worth $35,000. Diversified Trust Co increased its position in Parker-Hannifin by 4.0% during the fourth quarter. Diversified Trust Co now owns 1,017 shares of the industrial products company's stock worth $647,000 after acquiring an additional 39 shares during the period. Sterneck Capital Management LLC boosted its holdings in Parker-Hannifin by 34.2% in the 4th quarter. Sterneck Capital Management LLC now owns 502 shares of the industrial products company's stock valued at $319,000 after purchasing an additional 128 shares during the period. Finally, Fulton Bank N.A. acquired a new stake in Parker-Hannifin in the 4th quarter worth $298,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on PH. Wolfe Research cut shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. KeyCorp upped their target price on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. UBS Group lowered 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. Citigroup reduced their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus target price of $710.12.

Insider Activity at Parker-Hannifin

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 owned by insiders.

Parker-Hannifin Stock Up 1.0 %

Shares of NYSE PH traded up $6.10 during mid-day trading on Friday, reaching $647.60. 1,298,766 shares of the company's stock were exchanged, compared to its average volume of 721,192. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $598.40 and a 200 day simple moving average of $645.46. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The firm has a market capitalization of $83.36 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.85 and a beta of 1.36.

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

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be issued a dividend of $1.80 per share. The ex-dividend date is Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.11%. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.72%.

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.