World Equity Group Inc. Purchases New Shares in Parker-Hannifin Co. (NYSE:PH)

World Equity Group Inc. purchased a new stake in Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,500 shares of the industrial products company’s stock, valued at approximately $953,000.

Several other institutional investors and hedge funds have also modified their holdings of PH. Private Advisor Group LLC grew its stake in shares of Parker-Hannifin by 1.8% in the third quarter. Private Advisor Group LLC now owns 5,372 shares of the industrial products company’s stock valued at $3,394,000 after acquiring an additional 95 shares in the last quarter. Dakota Wealth Management grew its stake in Parker-Hannifin by 6.9% during the third quarter. Dakota Wealth Management now owns 1,088 shares of the industrial products company’s stock worth $687,000 after buying an additional 70 shares in the last quarter. Silver Oak Securities Incorporated grew its stake in Parker-Hannifin by 7,972.7% during the third quarter. Silver Oak Securities Incorporated now owns 1,776 shares of the industrial products company’s stock worth $1,124,000 after buying an additional 1,754 shares in the last quarter. Busey Bank grew its stake in Parker-Hannifin by 4.0% during the third quarter. Busey Bank now owns 605 shares of the industrial products company’s stock worth $382,000 after buying an additional 23 shares in the last quarter. Finally, Ballentine Partners LLC grew its stake in Parker-Hannifin by 7.6% during the third quarter. Ballentine Partners LLC now owns 1,498 shares of the industrial products company’s stock worth $946,000 after buying an additional 106 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PH. Citigroup began coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Argus increased their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. KeyCorp increased their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, TD Cowen increased their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $739.06.

Parker-Hannifin Stock Down 4.1 %

Shares of NYSE PH opened at $667.06 on Friday. The company has a 50 day simple moving average of $665.56 and a 200 day simple moving average of $645.57. The firm has a market cap of $85.86 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. 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 issued 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 net margin of 15.87% and a return on equity of 27.34%. On average, research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

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 given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 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.