Congress Wealth Management LLC DE Buys 18,503 Shares of Parker-Hannifin Co. (NYSE:PH)

Congress Wealth Management LLC DE boosted its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 67.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,806 shares of the industrial products company's stock after purchasing an additional 18,503 shares during the period. Congress Wealth Management LLC DE's holdings in Parker-Hannifin were worth $29,135,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PH. Whipplewood Advisors LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $25,000. Millstone Evans Group LLC purchased a new stake in Parker-Hannifin in the fourth quarter worth $30,000. Prestige Wealth Management Group LLC raised its holdings in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $35,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

PH has been the topic of several research reports. Evercore ISI boosted their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Stifel Nicolaus upped their price target on Parker-Hannifin from $689.00 to $691.00 and gave the stock a "hold" rating in a research note on Friday, January 31st. Barclays lowered their price objective on Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. KeyCorp raised their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, Citigroup began coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They issued a "buy" rating and a $795.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $736.65.

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Parker-Hannifin Stock Performance

Shares of NYSE PH traded down $25.49 during midday trading on Friday, hitting $600.78. 812,633 shares of the stock traded hands, compared to its average volume of 675,986. The firm has a market capitalization of $77.33 billion, a P/E ratio of 24.87, a PEG ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The firm has a 50-day moving average of $658.39 and a two-hundred day moving average of $654.07.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted 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, equities analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.09%. Parker-Hannifin's dividend payout ratio is currently 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.