Wellington Management Group LLP Cuts Stake in Parker-Hannifin Co. (NYSE:PH)

Wellington Management Group LLP lessened its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 9.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,800,677 shares of the industrial products company’s stock after selling 177,172 shares during the quarter. Wellington Management Group LLP’s holdings in Parker-Hannifin were worth $1,145,285,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC boosted its holdings in Parker-Hannifin by 7.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 37,185 shares of the industrial products company’s stock worth $23,651,000 after acquiring an additional 2,498 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Parker-Hannifin by 1.5% in the 4th quarter. Clearbridge Investments LLC now owns 213,207 shares of the industrial products company’s stock worth $135,606,000 after purchasing an additional 3,194 shares in the last quarter. Physician Wealth Advisors Inc. purchased a new stake in Parker-Hannifin during the 4th quarter worth approximately $80,000. CIBC Private Wealth Group LLC increased its stake in Parker-Hannifin by 0.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 227,317 shares of the industrial products company’s stock valued at $145,824,000 after purchasing an additional 1,870 shares in the last quarter. Finally, Strategy Asset Managers LLC raised its holdings in shares of Parker-Hannifin by 6.6% in the fourth quarter. Strategy Asset Managers LLC now owns 599 shares of the industrial products company’s stock worth $381,000 after buying an additional 37 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $600.78 on Monday. 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 Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The business’s 50 day moving average is $658.39 and its two-hundred day moving average is $655.07. The company has a market capitalization of $77.33 billion, a P/E ratio of 24.87, a P/E/G ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping 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 expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.09%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research analyst reports. Evercore ISI boosted their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Jefferies Financial Group boosted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Barclays reduced their price objective on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Citigroup started coverage on Parker-Hannifin in a research report on Friday, February 7th. They issued a “buy” rating and a $795.00 target price on the stock. Finally, StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $736.65.

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.