TD Waterhouse Canada Inc. Increases Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

TD Waterhouse Canada Inc. raised its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,707 shares of the industrial products company's stock after acquiring an additional 934 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Parker-Hannifin were worth $12,522,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. 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. Wells Fargo & Company increased their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Stifel Nicolaus cut their price objective on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. StockNews.com downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Finally, Citigroup dropped their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $705.35.

Parker-Hannifin Stock Up 0.1 %

Parker-Hannifin stock traded up $0.87 during midday trading on Friday, reaching $597.68. The stock had a trading volume of 530,407 shares, compared to its average volume of 715,241. The company has a fifty day moving average price of $607.62 and a two-hundred day moving average price of $646.67. The company has a market capitalization of $76.93 billion, a P/E ratio of 24.74, a PEG 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. Parker-Hannifin Co. has a 12 month low of $488.45 and a 12 month high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data 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 return on equity of 27.34% and a net margin of 15.87%. As a group, equities analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a dividend of $1.80 per share. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, May 9th. Parker-Hannifin's dividend payout ratio (DPR) is currently 26.99%.

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.