Applied Finance Capital Management LLC Acquires New Shares in Parker-Hannifin Co. (NYSE:PH)

Applied Finance Capital Management LLC acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,677 shares of the industrial products company's stock, valued at approximately $1,067,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Whipplewood Advisors LLC bought a new position in Parker-Hannifin during the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $30,000. Prestige Wealth Management Group LLC boosted its position in Parker-Hannifin by 83.3% during 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 period. Finally, Bank of New Hampshire bought a new position in Parker-Hannifin during the 4th quarter worth $35,000. Institutional investors own 82.44% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Evercore ISI boosted their price target 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. KeyCorp reduced 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, April 8th. Wells Fargo & Company raised their price target 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. Barclays reduced their price objective on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, UBS Group lowered their target price on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $720.47.

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Parker-Hannifin Price Performance

Parker-Hannifin stock traded up $4.60 during mid-day trading on Friday, hitting $564.78. The company's stock had a trading volume of 938,635 shares, compared to its average volume of 710,689. 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 stock has a market capitalization of $72.70 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.85 and a beta of 1.39. The stock's fifty day moving average price is $631.27 and its two-hundred day moving average price is $650.91. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. Research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared 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 1.15%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's dividend payout ratio (DPR) is 26.99%.

Parker-Hannifin 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.