Parallel Advisors LLC Raises Position in Parker-Hannifin Co. (NYSE:PH)

Parallel Advisors LLC increased its holdings in Parker-Hannifin Co. (NYSE:PH) by 51.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,741 shares of the industrial products company’s stock after buying an additional 1,606 shares during the period. Parallel Advisors LLC’s holdings in Parker-Hannifin were worth $3,016,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PH. Global Retirement Partners LLC lifted its holdings in Parker-Hannifin by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after buying an additional 15 shares during the period. FFT Wealth Management LLC lifted its holdings in Parker-Hannifin by 1.3% in the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock worth $732,000 after buying an additional 15 shares during the period. GenTrust LLC lifted its holdings in Parker-Hannifin by 2.9% in the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after buying an additional 15 shares during the period. Grove Bank & Trust lifted its holdings in Parker-Hannifin by 11.9% in the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after buying an additional 16 shares during the period. Finally, Moody Lynn & Lieberson LLC lifted its holdings in Parker-Hannifin by 0.6% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock worth $1,723,000 after buying an additional 16 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 2.3 %

NYSE:PH opened at $622.09 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company has a market cap of $80.08 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The company has a 50 day simple moving average of $661.68 and a two-hundred day simple moving average of $652.21.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS 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%. Research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders 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 1.05%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Analysts Set New Price Targets

PH has been the subject of several recent research reports. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Barclays lowered their target price on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a report on Monday, March 10th. KeyCorp lifted their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, 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 report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

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.