Vestmark Advisory Solutions Inc. Increases Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Vestmark Advisory Solutions Inc. increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,656 shares of the industrial products company’s stock after buying an additional 316 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Parker-Hannifin were worth $2,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin during the 4th quarter worth $25,000. Prestige Wealth Management Group LLC grew its stake in Parker-Hannifin by 83.3% during the 3rd 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 last quarter. Bank of New Hampshire purchased a new stake in Parker-Hannifin during the 4th quarter valued at about $35,000. Kestra Investment Management LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at about $40,000. Finally, Hager Investment Management Services LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at about $44,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $631.09 on Friday. The business has a 50 day simple moving average of $665.04 and a two-hundred day simple moving average of $650.13. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The stock has a market capitalization of $81.23 billion, a P/E ratio of 26.12, 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.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating 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, analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued 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 dividend yield of 1.03%. Parker-Hannifin’s payout ratio is currently 26.99%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a report on Thursday, December 12th. Barclays decreased their price objective on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Finally, TD Cowen boosted their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Two investment 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 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.