Glenview Trust co Trims Position in Parker-Hannifin Co. (NYSE:PH)

Glenview Trust co lowered its position in Parker-Hannifin Co. (NYSE:PH) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,545 shares of the industrial products company’s stock after selling 76 shares during the quarter. Glenview Trust co’s holdings in Parker-Hannifin were worth $1,619,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc grew its position in Parker-Hannifin by 8.4% in the third quarter. CIBC Asset Management Inc now owns 18,782 shares of the industrial products company’s stock worth $11,867,000 after acquiring an additional 1,453 shares during the period. Empowered Funds LLC grew its holdings in shares of Parker-Hannifin by 13.5% during the 3rd quarter. Empowered Funds LLC now owns 2,499 shares of the industrial products company’s stock worth $1,579,000 after purchasing an additional 298 shares during the period. Beaton Management Co. Inc. acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $222,000. Atlanta Consulting Group Advisors LLC purchased a new stake in Parker-Hannifin in the 3rd quarter valued at about $306,000. Finally, Adero Partners LLC acquired a new position in Parker-Hannifin in the third quarter valued at about $224,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 2.8 %

PH opened at $608.17 on Monday. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The business has a 50 day moving average price of $662.02 and a two-hundred day moving average price of $651.99. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market cap of $78.28 billion, a PE ratio of 25.17, 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 earnings per share for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Barclays cut their price objective on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a report on Thursday, December 12th. Jefferies Financial Group boosted their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Citigroup initiated coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target 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.