BXM Wealth LLC Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

BXM Wealth LLC acquired a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 398 shares of the industrial products company's stock, valued at approximately $253,000.

A number of other large investors have also modified their holdings of PH. West Branch Capital LLC acquired a new position in shares of Parker-Hannifin in the third quarter worth about $25,000. Prestige Wealth Management Group LLC raised its position in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire acquired a new position in shares of Parker-Hannifin in the fourth quarter worth about $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Parker-Hannifin during the third quarter worth about $39,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Trading Up 0.9 %

NYSE:PH traded up $6.02 on Wednesday, hitting $701.48. The stock had a trading volume of 646,425 shares, compared to its average volume of 655,960. 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 cap of $90.30 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 2.87 and a beta of 1.45. The company has a fifty day moving average price of $665.08 and a two-hundred day moving average price of $642.79. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted 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 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. Parker-Hannifin's dividend payout ratio is currently 26.99%.

Analyst Upgrades and Downgrades

PH has been the subject of a number of research reports. TD Cowen boosted their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a "hold" rating in a research note on Tuesday, November 12th. Jefferies Financial Group boosted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Barclays cut their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, KeyCorp boosted their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $739.06.

Parker-Hannifin Company 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.