Parker-Hannifin Co. (NYSE:PH) Shares Bought by Hendley & Co. Inc.

Hendley & Co. Inc. lifted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 43.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,446 shares of the industrial products company’s stock after buying an additional 3,163 shares during the period. Parker-Hannifin makes up approximately 2.3% of Hendley & Co. Inc.’s portfolio, making the stock its 15th largest position. Hendley & Co. Inc.’s holdings in Parker-Hannifin were worth $6,644,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PH. 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 valued at $35,000 after buying an additional 25 shares during the period. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $35,000. Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $40,000. Hager Investment Management Services LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $44,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Citigroup began coverage on Parker-Hannifin in a research report on Friday, February 7th. They issued a “buy” rating and a $795.00 target price on the stock. UBS Group decreased their target price on 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 upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a report on Thursday, December 12th. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. Finally, Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $739.06.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $658.64 on Tuesday. The stock has a market cap of $84.78 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The company has a fifty day simple moving average of $665.25 and a 200-day simple moving average of $647.14. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that Parker-Hannifin Co. will post 26.71 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. Shareholders of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.99%. Parker-Hannifin’s dividend payout ratio is currently 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.