Secured Retirement Advisors LLC bought a new position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,032 shares of the industrial products company's stock, valued at approximately $1,292,000.
Several other hedge funds have also recently bought and sold shares of PH. West Branch Capital LLC acquired a new position in shares of Parker-Hannifin in the third quarter valued at about $25,000. Prestige Wealth Management Group LLC grew its position in shares of 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 purchasing an additional 25 shares in the last quarter. Bank of New Hampshire bought a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in shares of Parker-Hannifin in the third quarter valued at approximately $39,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $44,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.
Parker-Hannifin Trading Up 0.9 %
Shares of PH stock traded up $6.02 during mid-day trading on Wednesday, reaching $701.48. 646,425 shares of the stock traded hands, compared to its average volume of 655,960. The stock's fifty day simple moving average is $665.08 and its two-hundred day simple moving average is $642.79. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market cap of $90.30 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 2.87 and a beta of 1.45.
Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping 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%. On average, research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.
Parker-Hannifin Announces Dividend
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 0.93%. The ex-dividend date is Friday, February 7th. Parker-Hannifin's dividend payout ratio is currently 26.99%.
Analyst Upgrades and Downgrades
PH has been the subject of several analyst reports. Stifel Nicolaus lifted their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a report on Friday, January 31st. Robert W. Baird upped their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. UBS Group reduced their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Barclays dropped their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Finally, Evercore ISI increased 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. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and an average price target of $739.06.
Read Our Latest Stock Analysis on PH
About Parker-Hannifin
(
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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