UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 265,768 Shares of Parker-Hannifin Co. (NYSE:PH)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 44.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 865,970 shares of the industrial products company's stock after buying an additional 265,768 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.67% of Parker-Hannifin worth $550,783,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank acquired a new position in Parker-Hannifin in the 4th quarter worth about $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 worth $725,229,000 after purchasing an additional 1,139,265 shares in the last quarter. Royal Bank of Canada increased its holdings in Parker-Hannifin by 99.8% in the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock worth $1,448,241,000 after purchasing an additional 1,137,564 shares in the last quarter. Capital World Investors acquired a new position in Parker-Hannifin in the 4th quarter worth about $418,174,000. Finally, OMERS ADMINISTRATION Corp increased its holdings in Parker-Hannifin by 6,912.4% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 312,472 shares of the industrial products company's stock worth $198,742,000 after purchasing an additional 308,016 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Analyst Ratings Changes

PH has been the subject of a number of recent research reports. Wall Street Zen cut Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Stifel Nicolaus upped their target price on Parker-Hannifin from $564.00 to $630.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. Citigroup decreased their price target on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research note on Monday, April 14th. UBS Group decreased their price target on 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, KeyCorp increased their price target on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and an average price target of $718.44.

Parker-Hannifin Trading Down 0.2%

NYSE PH traded down $1.37 during trading hours on Friday, hitting $655.98. 430,799 shares of the company's stock were exchanged, compared to its average volume of 718,258. The stock has a 50-day simple moving average of $609.02 and a 200 day simple moving average of $648.11. Parker-Hannifin Co. has a 1-year low of $488.45 and a 1-year high of $718.44. The firm has a market cap of $83.82 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 2.85 and a beta of 1.36. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the company earned $6.51 EPS. Parker-Hannifin's quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio is presently 27.72%.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value 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. This represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is owned by corporate insiders.

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.