Schonfeld Strategic Advisors LLC Purchases 24,487 Shares of Parker-Hannifin Co. (NYSE:PH)

Schonfeld Strategic Advisors LLC raised its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 37.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,922 shares of the industrial products company's stock after buying an additional 24,487 shares during the quarter. Parker-Hannifin comprises about 0.3% of Schonfeld Strategic Advisors LLC's holdings, making the stock its 29th largest position. Schonfeld Strategic Advisors LLC owned about 0.07% of Parker-Hannifin worth $57,193,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PH. Norges Bank bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $1,106,132,000. Proficio Capital Partners LLC raised its stake in shares of Parker-Hannifin by 116,370.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock valued at $725,229,000 after purchasing an additional 1,139,265 shares during the period. Capital World Investors bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $418,174,000. Assenagon Asset Management S.A. raised its stake in shares of Parker-Hannifin by 176.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company's stock valued at $278,661,000 after purchasing an additional 279,480 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $175,739,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Down 0.2 %

Shares of Parker-Hannifin stock opened at $597.00 on Tuesday. 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 1-year low of $488.45 and a 1-year high of $718.44. The company's fifty day simple moving average is $605.53 and its 200-day simple moving average is $646.60. The stock has a market capitalization of $76.85 billion, a PE ratio of 24.71, a P/E/G ratio of 2.85 and a beta of 1.39.

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 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 analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be paid a dividend of $1.80 per share. 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. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.21%. Parker-Hannifin's payout ratio is 29.80%.

Analyst Ratings Changes

PH has been the topic of a number of analyst reports. Evercore ISI boosted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Barclays decreased their price objective 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. KeyCorp reduced their target price on Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Wolfe Research cut Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Finally, Citigroup reduced their target price on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.

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