Valeo Financial Advisors LLC Sells 35 Shares of Parker-Hannifin Co. (NYSE:PH)

Valeo Financial Advisors LLC reduced its position in shares of Parker-Hannifin Co. (NYSE:PH) by 2.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,649 shares of the industrial products company’s stock after selling 35 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Parker-Hannifin were worth $1,049,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PH. West Branch Capital LLC bought a new stake in Parker-Hannifin during the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC raised its holdings in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire bought a new position in Parker-Hannifin in the 4th quarter worth $35,000. Northwest Investment Counselors LLC bought a new position in Parker-Hannifin in the 3rd quarter worth $39,000. Finally, Hager Investment Management Services LLC bought a new position in Parker-Hannifin in the 4th quarter worth $44,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $700.13 on Monday. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The company’s 50-day moving average is $664.47 and its 200 day moving average is $639.83. The company has a market capitalization of $90.12 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45. 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 (NYSE:PH) last announced its quarterly earnings results 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%. Sell-side analysts expect that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is presently 26.99%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PH shares. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Citigroup started coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective for the company. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Jefferies Financial Group upped their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, TD Cowen upped their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $729.18.

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.