Parker-Hannifin Co. (NYSE:PH) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lowered its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 93.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 233 shares of the industrial products company's stock after selling 3,355 shares during the period. Lazard Asset Management LLC's holdings in Parker-Hannifin were worth $147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $1,106,132,000. Proficio Capital Partners LLC increased its holdings in Parker-Hannifin by 116,370.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock valued at $725,229,000 after purchasing an additional 1,139,265 shares during the last quarter. Capital World Investors acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $418,174,000. Raymond James Financial Inc. acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $175,739,000. Finally, Franklin Resources Inc. boosted its position in Parker-Hannifin by 41.1% in the 4th quarter. Franklin Resources Inc. now owns 911,075 shares of the industrial products company's stock valued at $579,471,000 after buying an additional 265,559 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Down 0.1%

Shares of Parker-Hannifin stock traded down $0.56 during trading on Thursday, hitting $665.74. 100,555 shares of the stock were exchanged, compared to its average volume of 812,743. The firm's 50-day moving average price is $611.33 and its 200 day moving average price is $647.41. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month 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. The stock has a market cap of $85.07 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping 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 firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the business earned $6.51 EPS. Parker-Hannifin's revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, May 9th. 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 1.08%. Parker-Hannifin's payout ratio is currently 27.72%.

Wall Street Analyst Weigh In

PH has been the subject of several recent research reports. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Wolfe Research cut shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. KeyCorp raised their price target on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Wall Street Zen cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Finally, Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $564.00 to $630.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $718.44.

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.