Community Financial Services Group LLC Buys Shares of 461 Parker-Hannifin Co. (NYSE:PH)

Community Financial Services Group LLC purchased a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 461 shares of the industrial products company's stock, valued at approximately $293,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Ritholtz Wealth Management boosted its stake in Parker-Hannifin by 88.4% during the third quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company's stock valued at $931,000 after buying an additional 691 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in Parker-Hannifin during the third quarter valued at about $97,000. ORG Partners LLC boosted its stake in Parker-Hannifin by 164.8% during the third quarter. ORG Partners LLC now owns 241 shares of the industrial products company's stock valued at $152,000 after buying an additional 150 shares in the last quarter. Grove Bank & Trust boosted its stake in Parker-Hannifin by 20.7% during the third quarter. Grove Bank & Trust now owns 134 shares of the industrial products company's stock valued at $85,000 after buying an additional 23 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its position in shares of Parker-Hannifin by 0.7% in the 3rd quarter. Wesbanco Bank Inc. now owns 33,037 shares of the industrial products company's stock valued at $20,873,000 after purchasing an additional 214 shares during the period. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded up $6.31 during midday trading on Friday, hitting $700.13. 1,034,344 shares of the company were exchanged, compared to its average volume of 650,936. The firm has a 50 day simple moving average of $664.47 and a 200-day simple moving average of $639.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The firm has a market cap of $90.12 billion, a P/E ratio of 28.98, a PEG ratio of 2.84 and a beta of 1.45.

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 analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Research analysts forecast that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PH shares. Wells Fargo & Company increased their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Wolfe Research raised Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price objective for the company in a research note on Thursday, December 12th. Argus increased their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. UBS Group reduced their price objective on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Finally, TD Cowen raised their price target on Parker-Hannifin from $520.00 to $575.00 and gave the stock a "hold" rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $729.18.

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.