Kovack Advisors Inc. Raises Position in Parker-Hannifin Co. (NYSE:PH)

Kovack Advisors Inc. lifted its stake in Parker-Hannifin Co. (NYSE:PH) by 72.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,017 shares of the industrial products company’s stock after purchasing an additional 427 shares during the quarter. Kovack Advisors Inc.’s holdings in Parker-Hannifin were worth $647,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PH. State Street Corp raised its position in Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after purchasing an additional 753,143 shares during the period. Wellington Management Group LLP raised its holdings 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 worth $1,249,645,000 after buying an additional 564,365 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Parker-Hannifin in the third quarter worth approximately $226,570,000. Mizuho Securities USA LLC lifted its stake in shares of Parker-Hannifin by 3,566.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock worth $229,541,000 after acquiring an additional 353,393 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Parker-Hannifin by 176.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company’s stock valued at $278,661,000 after acquiring an additional 279,480 shares during the period. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Argus lifted their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Barclays decreased their price objective on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a report on Friday, January 31st. UBS Group dropped their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research note on Thursday, December 12th. Finally, KeyCorp lifted their target price on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Stock Down 0.8 %

NYSE:PH opened at $655.12 on Friday. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The company’s 50-day simple moving average is $665.73 and its 200-day simple moving average is $647.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a market capitalization of $84.33 billion, a P/E ratio of 27.12, a P/E/G ratio of 2.85 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (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%. On average, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.00%. 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.