Parker-Hannifin Co. (NYSE:PH) Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 2.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,755 shares of the industrial products company’s stock after buying an additional 56 shares during the period. Bleakley Financial Group LLC’s holdings in Parker-Hannifin were worth $1,752,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. West Branch Capital LLC purchased a new position in shares of Parker-Hannifin in the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC increased its position in shares of Parker-Hannifin by 83.3% during the third 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 purchased a new position in Parker-Hannifin in the 4th quarter valued at $35,000. Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin during the 3rd quarter worth $39,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $683.62 on Friday. 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 firm has a market cap of $88.00 billion, a P/E ratio of 28.30, a P/E/G ratio of 2.90 and a beta of 1.45. The firm’s 50 day moving average price is $665.96 and its 200-day moving average price is $633.41. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44.

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%. As a group, equities research analysts predict that Parker-Hannifin Co. will post 26.67 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders 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 yield of 0.95%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PH shares. Barclays decreased their price target on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research report on Thursday, December 12th. Argus increased 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. Mizuho lifted their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Stifel Nicolaus upped their target price on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $729.18.

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.