Stifel Financial Corp Increases Holdings in Parker-Hannifin Co. (NYSE:PH)

Stifel Financial Corp increased its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 265,568 shares of the industrial products company's stock after purchasing an additional 846 shares during the quarter. Stifel Financial Corp owned 0.21% of Parker-Hannifin worth $168,930,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PH. Whipplewood Advisors LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $25,000. Millstone Evans Group LLC purchased a new position in Parker-Hannifin during the 4th quarter valued at about $30,000. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PH shares. Wells Fargo & Company upped their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Citigroup decreased their price objective on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. KeyCorp cut their target price on shares of Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Wolfe Research cut shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Finally, StockNews.com lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $705.35.

Parker-Hannifin Trading Up 0.1 %

Shares of PH traded up $0.87 during mid-day trading on Friday, reaching $597.68. The company had a trading volume of 530,407 shares, compared to its average volume of 714,471. The stock has a market cap of $76.93 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The firm has a fifty day simple moving average of $609.54 and a 200-day simple moving average of $646.88. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two 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 earnings per share for the quarter, beating 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%. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio is 26.99%.

Parker-Hannifin 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.