Allspring Global Investments Holdings LLC Has $33.04 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Allspring Global Investments Holdings LLC decreased its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,717 shares of the industrial products company's stock after selling 8,916 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of Parker-Hannifin worth $33,040,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wilbanks Smith & Thomas Asset Management LLC grew its holdings in Parker-Hannifin by 0.7% in the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company's stock valued at $1,417,000 after purchasing an additional 25 shares during the last quarter. M&R Capital Management Inc. raised its position in Parker-Hannifin by 25.0% during the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company's stock worth $58,000 after acquiring an additional 25 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Parker-Hannifin by 0.7% in the fourth quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company's stock valued at $1,730,000 after purchasing an additional 25 shares in the last quarter. Acropolis Investment Management LLC grew its position in shares of Parker-Hannifin by 4.8% in the third quarter. Acropolis Investment Management LLC now owns 563 shares of the industrial products company's stock valued at $219,000 after purchasing an additional 26 shares during the last quarter. Finally, Caprock Group LLC increased its stake in shares of Parker-Hannifin by 1.8% during the 4th quarter. Caprock Group LLC now owns 1,503 shares of the industrial products company's stock worth $692,000 after purchasing an additional 26 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 1.0 %

Parker-Hannifin stock traded down $5.47 during midday trading on Friday, reaching $550.32. The stock had a trading volume of 462,892 shares, compared to its average volume of 479,827. The stock has a market capitalization of $70.67 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 2.03 and a beta of 1.52. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. The stock's 50-day simple moving average is $537.77 and its 200 day simple moving average is $467.46. Parker-Hannifin Co. has a twelve month low of $309.89 and a twelve month high of $570.15.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.26 by $0.89. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The business had revenue of $4.82 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter in the previous year, the business earned $4.76 EPS. The company's revenue for the quarter was up 3.1% on a year-over-year basis. Analysts expect that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a dividend of $1.48 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. Parker-Hannifin's payout ratio is 29.31%.

Insider Activity at Parker-Hannifin

In other news, COO Andrew D. Ross sold 3,904 shares of the company's stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company's stock, valued at $6,693,299.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Andrew D. Ross sold 3,904 shares of the company's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $6,693,299.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. In the last three months, insiders sold 12,079 shares of company stock worth $6,099,566. Corporate insiders own 1.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PH shares. TD Cowen raised Parker-Hannifin from an "underperform" rating to a "market perform" rating and raised their price target for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $450.00 to $510.00 and gave the company an "overweight" rating in a report on Tuesday, December 19th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $551.00 price target on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Barclays boosted their price objective on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an "overweight" rating in a research report on Tuesday, April 2nd. Finally, Evercore ISI raised their target price on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $515.38.

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.