Kovack Advisors Inc. Acquires 427 Shares of Parker-Hannifin Co. (NYSE:PH)

Kovack Advisors Inc. lifted its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 72.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,017 shares of the industrial products company's stock after purchasing an additional 427 shares during the quarter. Kovack Advisors Inc.'s holdings in Parker-Hannifin were worth $647,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin during the 4th quarter valued at about $25,000. Prestige Wealth Management Group LLC boosted its holdings in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new position in Parker-Hannifin in the fourth quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter worth $40,000. Finally, Hager Investment Management Services LLC acquired a new position in Parker-Hannifin during the fourth quarter valued at $44,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Shares of PH stock traded down $19.55 during trading hours on Monday, hitting $648.96. 1,127,200 shares of the company's stock were exchanged, compared to its average volume of 679,144. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The stock has a market cap of $83.53 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. 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's 50-day moving average is $666.19 and its 200-day moving average is $649.64.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 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, research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders 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 annualized dividend and a dividend yield of 1.00%. Parker-Hannifin's dividend payout ratio (DPR) is currently 26.99%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PH shares. KeyCorp increased their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. TD Cowen lifted their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a "hold" rating in a research note on Tuesday, November 12th. Evercore ISI increased their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Argus boosted their target price on Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Finally, Wolfe Research raised Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price target for the company in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $739.06.

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.