Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC raised its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 596.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,889 shares of the industrial products company's stock after buying an additional 197,741 shares during the quarter. Kovitz Investment Group Partners LLC owned about 0.18% of Parker-Hannifin worth $146,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of PH. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd purchased a new stake in Parker-Hannifin in the 4th quarter valued at about $25,000. Millstone Evans Group LLC bought a new position in Parker-Hannifin in the fourth quarter worth approximately $30,000. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at $35,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $40,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Down 1.3 %

Shares of PH traded down $7.87 during midday trading on Wednesday, hitting $594.87. 272,904 shares of the stock were exchanged, compared to its average volume of 714,492. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The firm has a market cap of $76.57 billion, a P/E ratio of 24.62, a P/E/G ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. The stock has a fifty day simple moving average of $603.68 and a 200 day simple moving average of $646.30.

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

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be given a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 1.21%. 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 dividend payout ratio (DPR) is currently 29.80%.

Analyst Upgrades and Downgrades

PH has been the topic of a number of analyst reports. Barclays cut their price target on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Wolfe Research downgraded shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. StockNews.com downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, KeyCorp dropped their target price on shares of Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $705.35.

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.