Bryn Mawr Capital Management LLC boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,310 shares of the industrial products company's stock after purchasing an additional 576 shares during the period. Bryn Mawr Capital Management LLC's holdings in Parker-Hannifin were worth $4,013,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. Prestige Wealth Management Group LLC raised its stake in shares of 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 acquiring an additional 25 shares during the period. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin in the 3rd quarter valued at $39,000. Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at $40,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 82.44% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on PH. Argus raised their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. 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 report on Friday, January 31st. KeyCorp raised their price target 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. Barclays lowered their price target on shares of Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, TD Cowen raised their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a "hold" rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $739.06.
Get Our Latest Analysis on PH
Parker-Hannifin Stock Performance
Shares of Parker-Hannifin stock traded down $28.53 during trading hours on Friday, reaching $666.93. The company's stock had a trading volume of 575,329 shares, compared to its average volume of 650,227. The company's 50 day simple moving average is $665.65 and its 200 day simple moving average is $643.57. 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 one year low of $492.71 and a one year high of $718.44. The stock has a market cap of $85.85 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 2.87 and a beta of 1.45.
Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results 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 net margin of 15.87% and a return on equity of 27.34%. As a group, analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.
Parker-Hannifin Dividend Announcement
The company also recently disclosed 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. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.98%. Parker-Hannifin's dividend payout ratio is presently 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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