Boston Financial Mangement LLC Makes New $495,000 Investment in Parker-Hannifin Co. (NYSE:PH)

Boston Financial Mangement LLC acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 778 shares of the industrial products company’s stock, valued at approximately $495,000.

Several other large investors also recently bought and sold shares of the company. State Street Corp grew its position in shares of Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after purchasing an additional 753,143 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Parker-Hannifin by 39.9% in the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after purchasing an additional 564,365 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Parker-Hannifin by 64,081.5% in the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock valued at $241,279,000 after purchasing an additional 381,285 shares in the last quarter. World Investment Advisors LLC purchased a new stake in shares of Parker-Hannifin in the third quarter valued at approximately $226,570,000. Finally, Mizuho Securities USA LLC grew its position in shares of Parker-Hannifin by 3,566.4% in the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after purchasing an additional 353,393 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PH shares. KeyCorp upped their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Argus upped their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Citigroup assumed coverage on Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective on the stock. TD Cowen upped 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. Finally, UBS Group decreased their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $739.06.

Parker-Hannifin Stock Down 0.8 %

NYSE:PH opened at $695.82 on Friday. 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 stock’s fifty day moving average is $665.39 and its two-hundred day moving average is $643.20. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The stock has a market capitalization of $89.57 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released its quarterly 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 return on equity of 27.34% and a net margin of 15.87%. Research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is currently 26.99%.

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.