Choate Investment Advisors Purchases 121 Shares of Parker-Hannifin Co. (NYSE:PH)

Choate Investment Advisors boosted its position in Parker-Hannifin Co. (NYSE:PH) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,893 shares of the industrial products company’s stock after acquiring an additional 121 shares during the quarter. Choate Investment Advisors’ holdings in Parker-Hannifin were worth $1,204,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PH. Diversified Enterprises LLC raised its holdings in shares of Parker-Hannifin by 2.8% during the 4th quarter. Diversified Enterprises LLC now owns 730 shares of the industrial products company’s stock worth $464,000 after buying an additional 20 shares in the last quarter. Frank Rimerman Advisors LLC grew its position in Parker-Hannifin by 0.9% in the fourth quarter. Frank Rimerman Advisors LLC now owns 3,850 shares of the industrial products company’s stock valued at $2,449,000 after acquiring an additional 34 shares during the last quarter. Clearstead Trust LLC raised its stake in Parker-Hannifin by 964.9% during the fourth quarter. Clearstead Trust LLC now owns 394 shares of the industrial products company’s stock worth $251,000 after acquiring an additional 357 shares in the last quarter. Picton Mahoney Asset Management lifted its holdings in shares of Parker-Hannifin by 25.7% in the fourth quarter. Picton Mahoney Asset Management now owns 440 shares of the industrial products company’s stock worth $280,000 after acquiring an additional 90 shares during the last quarter. Finally, Buckley Wealth Management LLC boosted its stake in shares of Parker-Hannifin by 2.6% in the 4th quarter. Buckley Wealth Management LLC now owns 923 shares of the industrial products company’s stock valued at $587,000 after purchasing an additional 23 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

PH stock opened at $608.17 on Monday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a market cap of $78.28 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 2.85 and a beta of 1.50. The company’s fifty day simple moving average is $662.02 and its 200 day simple moving average is $651.99. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44.

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

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Analyst Ratings Changes

PH has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Jefferies Financial Group increased their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Barclays reduced their price objective on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Citigroup started coverage on Parker-Hannifin in a research report on Friday, February 7th. They issued a “buy” rating and a $795.00 target price for the company. Finally, KeyCorp boosted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $736.65.

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.