Pathstone Holdings LLC Has $11.32 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Pathstone Holdings LLC reduced its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,785 shares of the industrial products company's stock after selling 766 shares during the quarter. Pathstone Holdings LLC's holdings in Parker-Hannifin were worth $11,318,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PH. Howard Capital Management Group LLC purchased a new stake in Parker-Hannifin in the 4th quarter valued at $23,390,000. SG Americas Securities LLC increased its holdings in Parker-Hannifin by 752.5% in the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock worth $15,507,000 after acquiring an additional 21,521 shares during the last quarter. Columbus Macro LLC boosted its stake in Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock worth $6,838,000 after purchasing an additional 8,914 shares during the period. Congress Asset Management Co. boosted its stake in Parker-Hannifin by 15.5% in the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock worth $121,292,000 after purchasing an additional 25,605 shares during the period. Finally, HUB Investment Partners LLC boosted its position in shares of Parker-Hannifin by 15.7% during the 4th quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company's stock valued at $4,960,000 after acquiring an additional 1,057 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 0.1%

Parker-Hannifin stock traded down $0.69 during mid-day trading on Monday, hitting $679.71. The company's stock had a trading volume of 720,125 shares, compared to its average volume of 719,150. The firm has a market capitalization of $86.85 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The stock's fifty day moving average is $603.37 and its two-hundred day moving average is $647.33.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The company had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the previous year, the firm posted $6.51 EPS. The firm's quarterly revenue was down 2.2% on a year-over-year basis. On average, analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS 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 dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.06%. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. Parker-Hannifin's payout ratio is presently 27.72%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the transaction, the vice president now directly owns 2,083 shares in the company, valued at $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. KeyCorp raised their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Barclays reduced their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. StockNews.com cut Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Stifel Nicolaus boosted their target price on Parker-Hannifin from $564.00 to $630.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. Finally, Argus set a $680.00 price target on Parker-Hannifin in a research report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $718.44.

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.