Oppenheimer & Co. Inc. Has $4.94 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

Oppenheimer & Co. Inc. boosted its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,767 shares of the industrial products company's stock after acquiring an additional 719 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Parker-Hannifin were worth $4,940,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $25,000. Prestige Wealth Management Group LLC grew its holdings in Parker-Hannifin by 83.3% during the 3rd 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 last quarter. Bank of New Hampshire acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $35,000. Kestra Investment Management LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth $40,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $44,000. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of NYSE PH traded down $13.29 during midday trading on Tuesday, reaching $637.28. 1,387,410 shares of the company were exchanged, compared to its average volume of 619,083. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The stock has a market cap of $82.03 billion, a P/E ratio of 26.35, a PEG ratio of 2.85 and a beta of 1.45. The stock's 50-day moving average price is $666.26 and its 200-day moving average price is $650.05.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. On average, sell-side analysts anticipate 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. Investors of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, February 7th. Parker-Hannifin's dividend payout ratio is currently 26.99%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. KeyCorp upped their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Jefferies Financial Group boosted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Citigroup started coverage on Parker-Hannifin in a research report on Friday, February 7th. They set a "buy" rating and a $795.00 price target on the stock. Finally, Evercore ISI upped their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus 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.