Parker-Hannifin Co. (NYSE:PH) Position Raised by TD Asset Management Inc.

TD Asset Management Inc. raised its position in shares of Parker-Hannifin Co. (NYSE:PH) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 146,090 shares of the industrial products company’s stock after purchasing an additional 407 shares during the quarter. TD Asset Management Inc.’s holdings in Parker-Hannifin were worth $92,918,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PH. Proficio Capital Partners LLC boosted its stake in Parker-Hannifin by 116,370.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after buying an additional 1,139,265 shares in the last quarter. State Street Corp lifted its holdings in Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after acquiring an additional 753,143 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after purchasing an additional 564,365 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter worth approximately $226,570,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Parker-Hannifin by 176.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company’s stock worth $278,661,000 after purchasing an additional 279,480 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PH shares. 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 target on the stock. Evercore ISI lifted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Jefferies Financial Group upped their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a research note on Thursday, December 12th. Finally, Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $651.41 on Wednesday. The firm has a market cap of $83.85 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 2.85 and a beta of 1.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The business’s 50-day simple moving average is $660.80 and its 200-day simple moving average is $654.24.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating 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%. As a group, equities research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share 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 given a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.00%. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

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.