Cibc World Markets Corp Buys 2,857 Shares of Parker-Hannifin Co. (NYSE:PH)

Cibc World Markets Corp increased its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 16.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,326 shares of the industrial products company's stock after buying an additional 2,857 shares during the quarter. Cibc World Markets Corp's holdings in Parker-Hannifin were worth $12,928,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PH. Whipplewood Advisors LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at $25,000. Prestige Wealth Management Group LLC raised its stake 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 valued at $35,000 after buying an additional 25 shares during the period. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC bought a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $44,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Price Performance

PH stock traded down $1.93 during trading on Friday, reaching $622.79. 813,148 shares of the company were exchanged, compared to its average volume of 778,086. The company has a market capitalization of $80.17 billion, a price-to-earnings ratio of 25.78, a P/E/G ratio of 2.85 and a beta of 1.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The company has a 50-day moving average of $660.75 and a two-hundred day moving average of $651.97. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44.

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Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating 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%. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.05%. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.99%.

Analyst Ratings Changes

PH has been the subject of a number of research analyst reports. Jefferies Financial Group lifted 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. Citigroup began coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They set a "buy" rating and a $795.00 target price for the company. UBS Group lowered their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Evercore ISI boosted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, Wolfe Research upgraded Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 target price on the stock in a research note on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $736.65.

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.