Envestnet Portfolio Solutions Inc. Has $8.20 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Envestnet Portfolio Solutions Inc. trimmed its position in Parker-Hannifin Co. (NYSE:PH) by 2.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 12,897 shares of the industrial products company’s stock after selling 276 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Parker-Hannifin were worth $8,203,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC grew its position 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 buying an additional 298 shares during the period. Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth approximately $306,000. Adero Partners LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth approximately $224,000. Claro Advisors LLC grew its position in shares of Parker-Hannifin by 62.5% during the 3rd quarter. Claro Advisors LLC now owns 746 shares of the industrial products company’s stock worth $471,000 after buying an additional 287 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in shares of Parker-Hannifin by 4.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 39,887 shares of the industrial products company’s stock worth $25,201,000 after buying an additional 1,825 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 2.3 %

Parker-Hannifin stock opened at $622.09 on Tuesday. The stock has a market capitalization of $80.08 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. 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 50 day moving average of $661.68 and a 200-day moving average of $652.21.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. On average, equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Analysts Set New Price Targets

PH has been the subject of several analyst reports. Wells Fargo & Company lifted their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research report on Thursday, December 12th. 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 objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, KeyCorp boosted their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

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.