Madison Investment Advisors LLC Buys New Shares in Parker-Hannifin Co. (NYSE:PH)

Madison Investment Advisors LLC acquired a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 125,068 shares of the industrial products company's stock, valued at approximately $79,547,000. Madison Investment Advisors LLC owned 0.10% of Parker-Hannifin at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin during the fourth quarter worth about $25,000. Prestige Wealth Management Group LLC lifted its holdings in shares of 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 valued at $35,000 after purchasing an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $35,000. Kestra Investment Management LLC bought a new position in Parker-Hannifin during the 4th quarter valued at approximately $40,000. Finally, Hager Investment Management Services LLC purchased a new position in Parker-Hannifin during the fourth quarter valued at $44,000. 82.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of recent research reports. UBS Group cut their target price on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Jefferies Financial Group increased their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Barclays decreased their target price on shares of Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating for the company in a report on Monday. Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a report on Friday, January 31st. Finally, Citigroup started coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a "buy" rating and a $795.00 price objective for the company. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus price target of $736.65.

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Parker-Hannifin Stock Performance

PH stock traded up $16.52 during trading on Friday, reaching $608.17. The stock had a trading volume of 929,538 shares, compared to its average volume of 636,861. The stock's 50 day moving average is $662.02 and its two-hundred day moving average is $651.12. The firm has a market cap of $78.28 billion, a PE ratio of 25.17, 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. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data 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, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's payout ratio is 26.99%.

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.