Congress Asset Management Co. Has $116.47 Million Stake in Parker-Hannifin Co. (NYSE:PH)

Congress Asset Management Co. lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 0.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 191,608 shares of the industrial products company's stock after acquiring an additional 907 shares during the period. Congress Asset Management Co. owned approximately 0.15% of Parker-Hannifin worth $116,469,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its stake in Parker-Hannifin by 5.9% in the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after acquiring an additional 101 shares during the period. Union Bancaire Privee UBP SA bought a new stake in Parker-Hannifin during the fourth quarter worth about $32,781,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Parker-Hannifin by 30.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,129 shares of the industrial products company's stock worth $10,979,000 after buying an additional 4,030 shares during the last quarter. Bleakley Financial Group LLC grew its stake in Parker-Hannifin by 2.1% during the fourth quarter. Bleakley Financial Group LLC now owns 2,755 shares of the industrial products company's stock worth $1,752,000 after buying an additional 56 shares during the last quarter. Finally, Adero Partners LLC grew its stake in Parker-Hannifin by 16.9% during the fourth quarter. Adero Partners LLC now owns 415 shares of the industrial products company's stock worth $264,000 after buying an additional 60 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Wall Street Zen cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Barclays decreased their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley began coverage on shares of Parker-Hannifin in a research report on Thursday. They set an "equal weight" rating and a $700.00 target price on the stock. Finally, Citigroup reduced their target price on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $719.71.

Parker-Hannifin Trading Up 1.5%

PH traded up $10.05 during mid-day trading on Friday, hitting $672.02. The stock had a trading volume of 387,695 shares, compared to its average volume of 711,693. The stock's fifty day simple moving average is $616.90 and its 200-day simple moving average is $645.47. 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 firm has a market capitalization of $85.87 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34. Parker-Hannifin Co. has a 1-year low of $488.45 and a 1-year high of $718.44.

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

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were given a dividend of $1.80 per share. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.07%. Parker-Hannifin's dividend payout ratio is currently 27.72%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.39% of the stock is owned by 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.