Allstate Corp Takes $2.42 Million Position in Parker-Hannifin Co. (NYSE:PH)

Allstate Corp acquired a new position in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,805 shares of the industrial products company’s stock, valued at approximately $2,420,000.

A number of other institutional investors have also recently bought and sold shares of the business. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC bought a new position in Parker-Hannifin during the 4th quarter worth $30,000. 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 acquiring an additional 25 shares in the last quarter. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $35,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth $40,000. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PH. StockNews.com cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Jefferies Financial Group upped their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. UBS Group decreased their price objective 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. Stifel Nicolaus upped their target price on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Finally, Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a research note on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Trading Down 4.1 %

NYSE:PH opened at $600.78 on Friday. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The firm’s fifty day moving average is $658.39 and its 200-day moving average is $654.58. The firm has a market cap of $77.33 billion, a P/E ratio of 24.87, a P/E/G ratio of 2.85 and a beta of 1.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. 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 was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.09%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 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.