Trek Financial LLC bought a new stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,043 shares of the industrial products company's stock, valued at approximately $3,207,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Franklin Resources Inc. lifted its holdings in Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock valued at $415,409,000 after purchasing an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth $23,390,000. SG Americas Securities LLC raised its position in shares of Parker-Hannifin by 752.5% during the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock valued at $15,507,000 after purchasing an additional 21,521 shares during the period. Columbus Macro LLC lifted its stake in shares of Parker-Hannifin by 485.2% during the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock valued at $6,838,000 after buying an additional 8,914 shares in the last quarter. Finally, Congress Asset Management Co. boosted its holdings in Parker-Hannifin by 15.5% in the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock worth $121,292,000 after buying an additional 25,605 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. Barclays decreased their price target on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a report on Thursday. Evercore ISI lifted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Wells Fargo & Company upped their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Wolfe Research downgraded shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Finally, KeyCorp cut their target price on shares of Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating for the company in a research note on Tuesday. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $720.47.
Get Our Latest Report on Parker-Hannifin
Parker-Hannifin Trading Up 0.8 %
PH traded up $4.60 on Friday, hitting $564.78. The company had a trading volume of 471,482 shares, compared to its average volume of 707,650. The company has a market cap of $72.70 billion, a PE ratio of 23.18, a PEG ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month high of $718.44. The business's fifty day simple moving average is $633.78 and its 200 day simple moving average is $651.30. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. Equities research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.
Parker-Hannifin Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.15%. Parker-Hannifin's dividend payout ratio (DPR) is 26.99%.
About Parker-Hannifin
(
Free Report)
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.
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