Vanguard Group Inc. Purchases 111,406 Shares of Parker-Hannifin Co. (NYSE:PH)

Vanguard Group Inc. boosted its position in Parker-Hannifin Co. (NYSE:PH) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 10,854,774 shares of the industrial products company’s stock after purchasing an additional 111,406 shares during the period. Vanguard Group Inc. owned about 0.08% of Parker-Hannifin worth $6,903,962,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Parker-Hannifin by 3.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 9,771 shares of the industrial products company’s stock valued at $6,174,000 after acquiring an additional 309 shares during the last quarter. Icon Wealth Advisors LLC grew its stake in Parker-Hannifin by 205.2% in the 3rd quarter. Icon Wealth Advisors LLC now owns 995 shares of the industrial products company’s stock valued at $629,000 after purchasing an additional 669 shares during the period. Nwam LLC bought a new position in Parker-Hannifin in the 3rd quarter valued at $1,009,000. Nicolet Advisory Services LLC grew its stake in Parker-Hannifin by 16.0% in the 3rd quarter. Nicolet Advisory Services LLC now owns 602 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 83 shares during the period. Finally, Cerity Partners LLC grew its stake in Parker-Hannifin by 44.9% in the 3rd quarter. Cerity Partners LLC now owns 63,282 shares of the industrial products company’s stock valued at $39,983,000 after purchasing an additional 19,616 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $622.79 on Monday. The company has a 50 day moving average of $660.60 and a 200 day moving average of $653.19. The stock has a market cap of $80.17 billion, a P/E ratio of 25.78, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month 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.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS 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%. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.05%. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. UBS Group reduced 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. Evercore ISI upped 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. Stifel Nicolaus upped their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a research report on Thursday, December 12th. Finally, StockNews.com cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $736.65.

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.