Montag A & Associates Inc. decreased its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,637 shares of the industrial products company's stock after selling 494 shares during the quarter. Montag A & Associates Inc.'s holdings in Parker-Hannifin were worth $11,854,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. West Branch Capital LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC raised its holdings in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock valued at $35,000 after buying an additional 25 shares during the period. Bank of New Hampshire purchased a new stake in Parker-Hannifin in the 4th quarter valued at about $35,000. Northwest Investment Counselors LLC purchased a new stake in Parker-Hannifin in the 3rd quarter valued at about $39,000. Finally, Hager Investment Management Services LLC purchased a new stake in Parker-Hannifin in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 82.44% of the company's stock.
Parker-Hannifin Stock Up 0.9 %
Shares of PH traded up $6.02 during mid-day trading on Wednesday, reaching $701.48. The company's stock had a trading volume of 646,425 shares, compared to its average volume of 655,824. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The stock has a market cap of $90.30 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 2.87 and a beta of 1.45. The company's 50 day moving average is $665.08 and its 200 day moving average is $642.79.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Equities analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS 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. Shareholders of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.93%. Parker-Hannifin's dividend payout ratio is presently 26.99%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on PH shares. Stifel Nicolaus boosted their price objective 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. 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 on the stock. Robert W. Baird boosted their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a report on Friday, November 1st. 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 note on Friday, January 31st. Finally, Jefferies Financial Group boosted their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $739.06.
Get Our Latest Stock Analysis on PH
Parker-Hannifin Profile
(
Free Report)
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.
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