Commonwealth Equity Services LLC Boosts Stock Position in Parker-Hannifin Co. (NYSE:PH)

Commonwealth Equity Services LLC grew its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 9.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 44,038 shares of the industrial products company’s stock after buying an additional 3,913 shares during the period. Commonwealth Equity Services LLC’s holdings in Parker-Hannifin were worth $28,009,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Global Retirement Partners LLC lifted its holdings in Parker-Hannifin by 1.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after purchasing an additional 15 shares in the last quarter. FFT Wealth Management LLC lifted its holdings in Parker-Hannifin by 1.3% in the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock worth $732,000 after purchasing an additional 15 shares in the last quarter. GenTrust LLC lifted its holdings in Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 15 shares in the last quarter. Grove Bank & Trust lifted its holdings in Parker-Hannifin by 11.9% in the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC lifted its holdings in Parker-Hannifin by 0.6% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock worth $1,723,000 after purchasing an additional 16 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on PH shares. Wells Fargo & Company boosted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Jefferies Financial Group boosted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Citigroup initiated coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective on the stock. Evercore ISI lifted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, KeyCorp lifted their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $608.17 on Friday. The stock’s fifty day moving average is $662.02 and its two-hundred day moving average is $651.54. The company has a market capitalization of $78.28 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week 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 EPS for the quarter, beating the consensus estimate 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 expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 1.07%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

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.