First Trust Advisors LP Sells 32,296 Shares of Parker-Hannifin Co. (NYSE:PH)

First Trust Advisors LP lessened its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 45.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,078 shares of the industrial products company's stock after selling 32,296 shares during the period. First Trust Advisors LP's holdings in Parker-Hannifin were worth $24,855,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $1,106,132,000. Proficio Capital Partners LLC increased its position 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 acquiring an additional 1,139,265 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Parker-Hannifin by 176.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company's stock worth $278,661,000 after acquiring an additional 279,480 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $175,739,000. Finally, Franklin Resources Inc. grew its stake in shares of Parker-Hannifin by 41.1% during the fourth quarter. Franklin Resources Inc. now owns 911,075 shares of the industrial products company's stock valued at $579,471,000 after purchasing an additional 265,559 shares during the last quarter. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Up 1.4 %

Shares of Parker-Hannifin stock traded up $8.58 on Thursday, hitting $613.64. The company had a trading volume of 384,107 shares, compared to its average volume of 717,344. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve 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 50-day moving average of $602.42 and a 200-day moving average of $646.00. The firm has a market capitalization of $78.99 billion, a P/E ratio of 25.44, a P/E/G ratio of 2.85 and a beta of 1.39.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced 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 $6.73 by $0.21. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. During the same period last year, the firm posted $6.51 EPS. The business's revenue was down 2.2% compared to the same quarter last year. Research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, May 9th. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio is presently 29.80%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PH. StockNews.com downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. UBS Group lowered their price objective on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Wolfe Research downgraded shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, Citigroup reduced their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $705.35.

Parker-Hannifin Company 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.