TAP Consulting LLC Purchases 58 Shares of Parker-Hannifin Co. (NYSE:PH)

TAP Consulting LLC increased its position in Parker-Hannifin Co. (NYSE:PH) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,973 shares of the industrial products company’s stock after purchasing an additional 58 shares during the quarter. TAP Consulting LLC’s holdings in Parker-Hannifin were worth $2,527,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC raised 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 valued at $886,000 after acquiring an additional 15 shares during the period. FFT Wealth Management LLC grew its position in shares of Parker-Hannifin by 1.3% in the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock valued at $732,000 after purchasing an additional 15 shares during the last quarter. GenTrust LLC increased its stake in shares of Parker-Hannifin by 2.9% during the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 15 shares during the period. Grove Bank & Trust lifted its holdings in Parker-Hannifin by 11.9% during 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 during the last quarter. Finally, Moody Lynn & Lieberson LLC boosted its stake 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 valued at $1,723,000 after purchasing an additional 16 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $629.93 on Thursday. The company’s 50 day moving average price is $661.07 and its two-hundred day moving average price is $652.16. The firm has a market capitalization of $81.08 billion, a P/E ratio of 26.07, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

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

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PH shares. Citigroup began coverage on Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 target price for the company. Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. KeyCorp increased their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group cut their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Barclays lowered their price objective on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $736.65.

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.