Wealthcare Capital Partners LLC Purchases New Position in Parker-Hannifin Co. (NYSE:PH)

Wealthcare Capital Partners LLC bought a new stake in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 623 shares of the industrial products company’s stock, valued at approximately $396,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. West Branch Capital LLC acquired a new position in Parker-Hannifin in the third quarter valued at $25,000. Prestige Wealth Management Group LLC increased its holdings in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $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 fourth quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in shares of Parker-Hannifin during the third quarter worth $39,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth $44,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $680.50 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The stock has a market cap of $87.59 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 2.84 and a beta of 1.45. The stock’s 50 day moving average price is $665.57 and its 200 day moving average price is $635.64. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44.

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 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%. Equities research analysts anticipate that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.96%. Parker-Hannifin’s payout ratio is currently 26.99%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PH shares. UBS Group reduced their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Wells Fargo & Company raised their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup initiated coverage on shares of Parker-Hannifin in a research report on Friday. They set a “buy” rating and a $795.00 target price on the stock. Stifel Nicolaus boosted their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Finally, Barclays reduced their price target 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. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $729.18.

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.