Wealthcare Capital Partners LLC acquired a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 623 shares of the industrial products company's stock, valued at approximately $396,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Franklin Resources Inc. lifted its holdings in shares of Parker-Hannifin by 39.2% in the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock worth $415,409,000 after acquiring an additional 181,859 shares during the last quarter. Howard Capital Management Group LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth about $23,390,000. SG Americas Securities LLC lifted its holdings in shares of Parker-Hannifin by 752.5% in the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock worth $15,507,000 after acquiring an additional 21,521 shares during the last quarter. Wilkinson Global Asset Management LLC lifted its holdings in shares of Parker-Hannifin by 59.1% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company's stock worth $24,700,000 after acquiring an additional 14,526 shares during the last quarter. Finally, Columbus Macro LLC lifted its holdings in shares of Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock worth $6,838,000 after acquiring an additional 8,914 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on PH shares. Mizuho raised their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. StockNews.com upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, February 8th. Jefferies Financial Group lifted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a report on Friday, December 6th. Argus lifted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Finally, Barclays decreased their price objective on shares of Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus target price of $729.18.
Get Our Latest Report on PH
Parker-Hannifin Stock Up 0.8 %
Shares of Parker-Hannifin stock traded up $5.23 on Friday, reaching $699.05. The stock had a trading volume of 474,938 shares, compared to its average volume of 633,439. The company has a 50 day moving average price of $664.39 and a 200 day moving average price of $638.17. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The stock has a market capitalization of $89.98 billion, a P/E ratio of 28.97, a P/E/G ratio of 2.84 and a beta of 1.45.
Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 26.67 EPS for the current year.
Parker-Hannifin Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, February 7th. Parker-Hannifin's dividend payout ratio is presently 26.99%.
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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