Machina Capital S.A.S. Increases Holdings in Parker-Hannifin Co. (NYSE:PH)

Machina Capital S.A.S. lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 100.8% during the fourth quarter, HoldingsChannel reports. The firm owned 1,452 shares of the industrial products company’s stock after purchasing an additional 729 shares during the quarter. Machina Capital S.A.S.’s holdings in Parker-Hannifin were worth $669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PH. Beaumont Asset Management L.L.C. grew its stake in shares of Parker-Hannifin by 0.8% during the 4th quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock worth $1,415,000 after acquiring an additional 24 shares during the period. Wilbanks Smith & Thomas Asset Management LLC increased its stake in shares of Parker-Hannifin by 0.7% in the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock worth $1,417,000 after purchasing an additional 25 shares in the last quarter. M&R Capital Management Inc. raised its position in shares of Parker-Hannifin by 25.0% in the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 25 shares during the period. Private Trust Co. NA lifted its stake in shares of Parker-Hannifin by 0.7% during the 4th quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock valued at $1,730,000 after buying an additional 25 shares in the last quarter. Finally, Keel Point LLC boosted its holdings in Parker-Hannifin by 3.1% in the 4th quarter. Keel Point LLC now owns 842 shares of the industrial products company’s stock worth $388,000 after buying an additional 25 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

PH stock traded up $14.61 during trading on Monday, hitting $550.79. 604,648 shares of the company traded hands, compared to its average volume of 606,886. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. The stock’s 50-day simple moving average is $545.36 and its 200 day simple moving average is $485.16. Parker-Hannifin Co. has a 1 year low of $319.14 and a 1 year high of $570.15. The company has a market cap of $70.73 billion, a PE ratio of 25.96, a P/E/G ratio of 1.94 and a beta of 1.51.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. Parker-Hannifin’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.93 earnings per share. On average, equities analysts expect that Parker-Hannifin Co. will post 24.62 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 10th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.18%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.90%.

Analysts Set New Price Targets

PH has been the subject of a number of analyst reports. Barclays cut their price target on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a report on Friday. Evercore ISI boosted their price target on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. KeyCorp boosted their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Stifel Nicolaus boosted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $539.56.

Parker-Hannifin 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.