Parker-Hannifin Co. (NYSE:PH) is Raub Brock Capital Management LP's 8th Largest Position

Raub Brock Capital Management LP lowered its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 8.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,547 shares of the industrial products company's stock after selling 2,945 shares during the quarter. Parker-Hannifin makes up about 4.1% of Raub Brock Capital Management LP's holdings, making the stock its 8th biggest holding. Raub Brock Capital Management LP's holdings in Parker-Hannifin were worth $18,568,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $1,106,132,000. GAMMA Investing LLC increased its stake in Parker-Hannifin by 66,111.8% in the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock valued at $1,054,870,000 after buying an additional 1,732,791 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Parker-Hannifin by 116,370.3% during 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 boosted its position in shares of Parker-Hannifin by 99.8% during 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. Finally, Capital World Investors purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth $418,174,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on PH shares. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a research report on Friday, May 16th. Morgan Stanley assumed coverage on shares of Parker-Hannifin in a research note on Thursday, June 5th. They set an "equal weight" rating and a $700.00 price objective for the company. Barclays dropped their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Evercore ISI upped their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Finally, Wolfe Research downgraded shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $719.71.

Parker-Hannifin Stock Performance

NYSE PH traded down $13.14 during trading hours on Friday, hitting $653.73. The company had a trading volume of 682,749 shares, compared to its average volume of 707,743. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $628.39 and a 200-day simple moving average of $644.55. The firm has a market cap of $83.53 billion, a P/E ratio of 27.06, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 27.34% and a net margin of 15.87%. The company's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company earned $6.51 earnings per share. Equities analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were paid a dividend of $1.80 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.10%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio (DPR) is currently 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.