Parker-Hannifin Co. (NYSE:PH) Stake Boosted by Greenwich Wealth Management LLC

Greenwich Wealth Management LLC lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,320 shares of the industrial products company’s stock after purchasing an additional 162 shares during the period. Parker-Hannifin accounts for about 0.6% of Greenwich Wealth Management LLC’s investment portfolio, making the stock its 29th biggest holding. Greenwich Wealth Management LLC’s holdings in Parker-Hannifin were worth $7,836,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Franklin Resources Inc. lifted its position in Parker-Hannifin by 39.2% during 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 acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at about $23,390,000. SG Americas Securities LLC raised its position in shares of Parker-Hannifin by 752.5% during the fourth quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock valued at $15,507,000 after buying an additional 21,521 shares during the last quarter. Columbus Macro LLC raised its position in shares of Parker-Hannifin by 485.2% during the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock valued at $6,838,000 after buying an additional 8,914 shares during the last quarter. Finally, Congress Asset Management Co. raised its position in shares of Parker-Hannifin by 15.5% during the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock valued at $121,292,000 after buying an additional 25,605 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Citigroup started coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 price objective for the company. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research note on Thursday, December 12th. Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. KeyCorp increased their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group increased 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. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Stock Up 2.8 %

Shares of PH stock opened at $608.17 on Friday. The company has a market capitalization of $78.28 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The firm has a fifty day moving average of $662.02 and a 200-day moving average of $651.54. 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 (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating 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 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 announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

Parker-Hannifin 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.