Momentous Wealth Management Inc. Makes New $2.56 Million Investment in Parker-Hannifin Co. (NYSE:PH)

Momentous Wealth Management Inc. acquired a new stake in Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,018 shares of the industrial products company’s stock, valued at approximately $2,556,000. Parker-Hannifin accounts for approximately 2.1% of Momentous Wealth Management Inc.’s investment portfolio, making the stock its 10th biggest position.

Other hedge funds also recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin in the 4th quarter worth about $25,000. Millstone Evans Group LLC purchased a new stake in Parker-Hannifin in the 4th quarter worth approximately $30,000. Prestige Wealth Management Group LLC grew its position in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire bought a new position in shares of Parker-Hannifin in the fourth quarter worth $35,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth $40,000. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on PH shares. UBS Group decreased their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. StockNews.com cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Jefferies Financial Group lifted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a report on Thursday, December 12th. Finally, Barclays cut their target price on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Price Performance

NYSE:PH opened at $643.21 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The stock has a 50 day moving average price of $660.71 and a 200 day moving average price of $653.67. The stock has a market cap of $82.79 billion, a PE ratio of 26.62, a P/E/G ratio of 2.85 and a beta of 1.50.

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 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%. Equities research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.01%. Parker-Hannifin’s payout ratio is 26.99%.

About Parker-Hannifin

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.