OFI Invest Asset Management Takes Position in Parker-Hannifin Co. (NYSE:PH)

OFI Invest Asset Management acquired a new position in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 52,132 shares of the industrial products company’s stock, valued at approximately $32,021,000.

Other institutional investors have also recently bought and sold shares of the company. Amundi boosted its stake in shares of Parker-Hannifin by 11.4% during the 4th quarter. Amundi now owns 533,577 shares of the industrial products company’s stock valued at $342,290,000 after buying an additional 54,471 shares during the period. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Parker-Hannifin by 1.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,083 shares of the industrial products company’s stock worth $689,000 after acquiring an additional 16 shares in the last quarter. Larson Financial Group LLC boosted its position in Parker-Hannifin by 3.8% during the fourth quarter. Larson Financial Group LLC now owns 7,641 shares of the industrial products company’s stock valued at $4,860,000 after purchasing an additional 277 shares during the last quarter. PCJ Investment Counsel Ltd. grew its stake in Parker-Hannifin by 10.1% in the fourth quarter. PCJ Investment Counsel Ltd. now owns 7,000 shares of the industrial products company’s stock valued at $4,452,000 after purchasing an additional 640 shares in the last quarter. Finally, Banco Santander S.A. increased its position in Parker-Hannifin by 44.6% in the 4th quarter. Banco Santander S.A. now owns 20,940 shares of the industrial products company’s stock worth $13,318,000 after purchasing an additional 6,462 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

NYSE:PH opened at $635.57 on Friday. 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 one year low of $492.71 and a one year high of $718.44. The company has a fifty day moving average price of $664.88 and a 200 day moving average price of $650.95. The stock has a market cap of $81.81 billion, a P/E ratio of 26.31, a PEG ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) 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 net margin of 15.87% and a return on equity of 27.34%. Analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. KeyCorp lifted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup assumed coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 target price for the company. Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research note on Thursday, December 12th. Finally, Jefferies Financial Group raised their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Company 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.