Aristotle Capital Management LLC Sells 54,789 Shares of Parker-Hannifin Co. (NYSE:PH)

Aristotle Capital Management LLC trimmed its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,192,794 shares of the industrial products company's stock after selling 54,789 shares during the period. Parker-Hannifin accounts for about 3.9% of Aristotle Capital Management LLC's holdings, making the stock its biggest holding. Aristotle Capital Management LLC owned 2.48% of Parker-Hannifin worth $2,030,713,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PH. Global Retirement Partners LLC lifted its position in Parker-Hannifin by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock valued at $886,000 after buying an additional 15 shares during the last quarter. FFT Wealth Management LLC grew its stake in shares of Parker-Hannifin by 1.3% in the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock valued at $732,000 after buying an additional 15 shares in the last quarter. GenTrust LLC grew its stake in shares of Parker-Hannifin by 2.9% in the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock valued at $333,000 after buying an additional 15 shares in the last quarter. Grove Bank & Trust lifted its stake in Parker-Hannifin by 11.9% during the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company's stock worth $95,000 after acquiring an additional 16 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC boosted its holdings in Parker-Hannifin by 0.6% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company's stock valued at $1,723,000 after acquiring an additional 16 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. KeyCorp upped their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday. Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. UBS Group decreased their price objective on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $564.00 to $630.00 and gave the stock a "hold" rating in a research note on Friday. Finally, Citigroup decreased their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Parker-Hannifin presently has an average rating of "Moderate Buy" and a consensus target price of $711.88.

Parker-Hannifin Price Performance

Shares of PH traded down $1.42 during midday trading on Monday, reaching $617.60. The stock had a trading volume of 617,012 shares, compared to its average volume of 714,158. 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 company has a market capitalization of $79.50 billion, a P/E ratio of 25.56, a P/E/G ratio of 2.85 and a beta of 1.36. The firm's 50 day moving average price is $599.84 and its 200-day moving average price is $645.59. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44.

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 the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The firm's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.51 EPS. On average, analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share 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. Stockholders of record on Friday, May 9th will be paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.17%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 9th. Parker-Hannifin's payout ratio is presently 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.