Gryphon Financial Partners LLC Grows Position in Parker-Hannifin Co. (NYSE:PH)

Gryphon Financial Partners LLC raised its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 3.1% during the fourth quarter, HoldingsChannel reports. The firm owned 1,197 shares of the industrial products company’s stock after purchasing an additional 36 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Parker-Hannifin were worth $762,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Stephens Inc. AR raised its stake in Parker-Hannifin by 7.1% in the 3rd quarter. Stephens Inc. AR now owns 3,472 shares of the industrial products company’s stock worth $2,194,000 after acquiring an additional 230 shares during the last quarter. Principal Securities Inc. increased its holdings in shares of Parker-Hannifin by 27.6% in the third quarter. Principal Securities Inc. now owns 4,956 shares of the industrial products company’s stock valued at $3,132,000 after purchasing an additional 1,073 shares during the period. Focus Financial Network Inc. raised its stake in shares of Parker-Hannifin by 8.9% in the third quarter. Focus Financial Network Inc. now owns 651 shares of the industrial products company’s stock worth $411,000 after purchasing an additional 53 shares during the last quarter. Capital Advisors Inc. OK purchased a new position in shares of Parker-Hannifin in the third quarter worth about $200,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Parker-Hannifin by 13.5% during the third quarter. Farther Finance Advisors LLC now owns 1,212 shares of the industrial products company’s stock worth $766,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 2.3 %

Shares of PH stock opened at $670.07 on Monday. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The company has a market cap of $86.25 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 2.85 and a beta of 1.45. 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 50 day simple moving average of $666.19 and a 200-day simple moving average of $649.64.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. On average, equities research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Analyst Upgrades and Downgrades

PH has been the subject of a number of recent research reports. Evercore ISI raised their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Barclays cut their price objective on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a research report on Thursday, December 12th. Jefferies Financial Group upped their price target 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. Finally, UBS Group reduced their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $739.06.

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.