Cidel Asset Management Inc. Has $244,000 Position in Parker-Hannifin Co. (NYSE:PH)

Cidel Asset Management Inc. decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 5.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 384 shares of the industrial products company’s stock after selling 21 shares during the period. Cidel Asset Management Inc.’s holdings in Parker-Hannifin were worth $244,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PH. West Branch Capital LLC acquired a new position in Parker-Hannifin during the third quarter worth about $25,000. Prestige Wealth Management Group LLC lifted 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 purchasing an additional 25 shares during the last quarter. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $35,000. Northwest Investment Counselors LLC bought a new position in shares of Parker-Hannifin in the 3rd quarter valued at $39,000. Finally, Hager Investment Management Services LLC bought a new stake in Parker-Hannifin during the 4th quarter worth $44,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Performance

NYSE PH opened at $683.62 on Friday. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The company has a 50-day simple moving average of $665.57 and a 200 day simple moving average of $634.32. The company has a market capitalization of $88.00 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, research analysts predict that Parker-Hannifin Co. will post 26.67 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is presently 26.99%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. UBS Group lowered 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. KeyCorp upped their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research note on Thursday, December 12th. Barclays reduced their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Citigroup started coverage on shares of Parker-Hannifin in a research report on Friday. They issued a “buy” rating and a $795.00 price target on the stock. Two investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $729.18.

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.