Centricity Wealth Management LLC Takes Position in Parker-Hannifin Co. (NYSE:PH)

Centricity Wealth Management LLC purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 116 shares of the industrial products company’s stock, valued at approximately $74,000.

A number of other hedge funds also recently modified their holdings of the stock. Prestige Wealth Management Group LLC boosted its position in Parker-Hannifin by 83.3% during 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 during the period. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at approximately $35,000. Kestra Investment Management LLC bought a new position in Parker-Hannifin in the 4th quarter worth approximately $40,000. Hager Investment Management Services LLC purchased a new position in Parker-Hannifin in the 4th quarter valued at approximately $44,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Parker-Hannifin in the 4th quarter valued at approximately $47,000. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PH. Robert W. Baird increased their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group increased their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Evercore ISI lifted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday. Stifel Nicolaus upped their price target on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Finally, Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Stock Down 4.1 %

Shares of NYSE:PH opened at $667.06 on Friday. The firm has a fifty day moving average of $665.65 and a 200 day moving average of $643.57. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week 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 market capitalization of $85.86 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 2.87 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted 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 return on equity of 27.34% and a net margin of 15.87%. As a group, research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio 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.