Skba Capital Management LLC Sells 580 Shares of Parker-Hannifin Co. (NYSE:PH)

Skba Capital Management LLC lowered its position in Parker-Hannifin Co. (NYSE:PH) by 5.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,940 shares of the industrial products company’s stock after selling 580 shares during the quarter. Skba Capital Management LLC’s holdings in Parker-Hannifin were worth $6,322,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth about $25,000. Millstone Evans Group LLC purchased a new position in Parker-Hannifin in the 4th quarter valued at approximately $30,000. Prestige Wealth Management Group LLC grew its stake in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire bought a new stake in Parker-Hannifin during the 4th quarter valued at $35,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth $40,000. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PH. Jefferies Financial Group boosted their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Stifel Nicolaus upped their price target on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Citigroup initiated coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective for the company. Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Barclays reduced their price target on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $600.78 on Monday. The firm has a market capitalization of $77.33 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. 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 price is $658.39 and its 200-day moving average price is $655.07.

Parker-Hannifin (NYSE:PH) last posted 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%. Sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared 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. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.09%. Parker-Hannifin’s payout ratio is 26.99%.

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.