Dimensional Fund Advisors LP Reduces Position in Parker-Hannifin Co. (NYSE:PH)

Dimensional Fund Advisors LP decreased its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 694,288 shares of the industrial products company's stock after selling 6,248 shares during the period. Dimensional Fund Advisors LP owned about 0.54% of Parker-Hannifin worth $441,609,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Forum Financial Management LP increased its position in shares of Parker-Hannifin by 2.6% during the 4th quarter. Forum Financial Management LP now owns 1,365 shares of the industrial products company's stock valued at $868,000 after purchasing an additional 35 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in Parker-Hannifin by 24.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 124,465 shares of the industrial products company's stock worth $79,163,000 after purchasing an additional 24,679 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at approximately $48,125,000. Verisail Partners LLC bought a new position in Parker-Hannifin during the fourth quarter valued at approximately $201,000. Finally, Main Street Financial Solutions LLC increased its position in Parker-Hannifin by 15.4% in the fourth quarter. Main Street Financial Solutions LLC now owns 562 shares of the industrial products company's stock worth $358,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Up 0.7 %

Shares of NYSE PH traded up $4.21 during midday trading on Friday, reaching $601.02. 196,503 shares of the company's stock traded hands, compared to its average volume of 713,205. The company has a market cap of $77.36 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 2.85 and a beta of 1.39. The stock's 50 day simple moving average is $609.54 and its 200-day simple moving average is $646.88. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, analysts predict that Parker-Hannifin Co. will post 26.71 EPS 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 paid a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 1.20%. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio (DPR) is 26.99%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PH shares. StockNews.com lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. KeyCorp dropped their price objective 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. Barclays lowered their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. UBS Group decreased their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Finally, Citigroup reduced their price target on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus price target of $705.35.

Parker-Hannifin 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.