King Wealth Management Group Purchases 1,779 Shares of Parker-Hannifin Co. (NYSE:PH)

King Wealth Management Group grew its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,024 shares of the industrial products company's stock after buying an additional 1,779 shares during the quarter. Parker-Hannifin makes up about 1.3% of King Wealth Management Group's investment portfolio, making the stock its 20th biggest position. King Wealth Management Group's holdings in Parker-Hannifin were worth $8,919,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its holdings in Parker-Hannifin by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock valued at $886,000 after acquiring an additional 15 shares during the last quarter. FFT Wealth Management LLC boosted its holdings in Parker-Hannifin by 1.3% in the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock valued at $732,000 after acquiring an additional 15 shares during the last quarter. GenTrust LLC boosted its holdings in Parker-Hannifin by 2.9% in the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock valued at $333,000 after acquiring an additional 15 shares during the last quarter. Grove Bank & Trust boosted its holdings in Parker-Hannifin by 11.9% in the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company's stock valued at $95,000 after acquiring an additional 16 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC boosted its holdings in Parker-Hannifin by 0.6% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company's stock valued at $1,723,000 after acquiring an additional 16 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

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Parker-Hannifin Stock Down 0.9 %

PH stock traded down $5.72 during mid-day trading on Tuesday, reaching $615.86. The company had a trading volume of 733,406 shares, compared to its average volume of 637,707. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The stock has a 50 day simple moving average of $661.68 and a two-hundred day simple moving average of $652.21. The company has a market capitalization of $79.27 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal 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 paid 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 1.06%. Parker-Hannifin's dividend payout ratio is currently 26.99%.

Analysts Set New Price Targets

PH has been the topic of several analyst reports. Wolfe Research raised Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 target price on the stock in a research note on Thursday, December 12th. UBS Group dropped their price target 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. Barclays dropped their price target on Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Evercore ISI raised their price target on Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, KeyCorp lifted their target price on Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and an average price target of $736.65.

About Parker-Hannifin

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.