Meridian Wealth Management LLC Has $1.53 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Meridian Wealth Management LLC raised its position in Parker-Hannifin Co. (NYSE:PH) by 1.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,408 shares of the industrial products company’s stock after purchasing an additional 33 shares during the quarter. Meridian Wealth Management LLC’s holdings in Parker-Hannifin were worth $1,532,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC boosted its position in Parker-Hannifin by 39.0% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,341 shares of the industrial products company’s stock valued at $933,000 after buying an additional 376 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Parker-Hannifin in the fourth quarter valued at about $49,000. Jones Financial Companies Lllp lifted its position in shares of Parker-Hannifin by 54.5% during the fourth quarter. Jones Financial Companies Lllp now owns 14,169 shares of the industrial products company’s stock worth $9,012,000 after purchasing an additional 4,999 shares in the last quarter. Modera Wealth Management LLC grew its stake in shares of Parker-Hannifin by 16.4% during the fourth quarter. Modera Wealth Management LLC now owns 531 shares of the industrial products company’s stock valued at $338,000 after purchasing an additional 75 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its holdings in shares of Parker-Hannifin by 61.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,951 shares of the industrial products company’s stock valued at $1,241,000 after purchasing an additional 743 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on PH. UBS Group reduced their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Barclays decreased their price target on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Argus raised their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. KeyCorp raised their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $739.06.

Parker-Hannifin Trading Down 2.9 %

NYSE:PH opened at $648.96 on Tuesday. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The business’s 50-day moving average price is $666.26 and its two-hundred day moving average price is $650.05. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $83.53 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.85 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 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 expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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 given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 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.