MML Investors Services LLC Acquires 759 Shares of Parker-Hannifin Co. (NYSE:PH)

MML Investors Services LLC lifted its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,189 shares of the industrial products company's stock after buying an additional 759 shares during the quarter. MML Investors Services LLC's holdings in Parker-Hannifin were worth $16,021,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Parker-Hannifin by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock worth $6,903,962,000 after acquiring an additional 111,406 shares in the last quarter. Geode Capital Management LLC boosted its position in Parker-Hannifin by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock worth $1,699,580,000 after purchasing an additional 99,261 shares during the period. Invesco Ltd. grew its holdings in Parker-Hannifin by 8.6% during the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company's stock valued at $1,591,810,000 after purchasing an additional 198,292 shares during the last quarter. Norges Bank bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $1,106,132,000. Finally, Proficio Capital Partners LLC lifted its stake in shares of Parker-Hannifin by 116,370.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock worth $725,229,000 after buying an additional 1,139,265 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded down $1.87 during midday trading on Monday, reaching $596.15. The company's stock had a trading volume of 138,244 shares, compared to its average volume of 713,672. The business's fifty day simple moving average is $607.62 and its 200-day simple moving average is $646.88. The company has a market capitalization of $76.74 billion, a P/E ratio of 24.71, a P/E/G ratio of 2.85 and a beta of 1.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, equities research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a dividend of $1.80 per share. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, May 9th. Parker-Hannifin's payout ratio is currently 29.80%.

Wall Street Analyst Weigh In

PH has been the subject of several research analyst reports. UBS Group cut 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. Stifel Nicolaus reduced their price objective on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Barclays dropped their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Citigroup reduced their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $705.35.

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.