J.W. Cole Advisors Inc. Raises Holdings in Parker-Hannifin Co. (NYSE:PH)

J.W. Cole Advisors Inc. increased its position in Parker-Hannifin Co. (NYSE:PH) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,447 shares of the industrial products company’s stock after buying an additional 58 shares during the period. J.W. Cole Advisors Inc.’s holdings in Parker-Hannifin were worth $1,557,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PH. Exchange Traded Concepts LLC bought a new position in shares of Parker-Hannifin during the 3rd quarter valued at approximately $97,000. Creative Planning increased its holdings in Parker-Hannifin by 9.9% during the 3rd quarter. Creative Planning now owns 28,003 shares of the industrial products company’s stock worth $17,693,000 after purchasing an additional 2,513 shares during the period. Blue Trust Inc. raised its holdings in shares of Parker-Hannifin by 31.7% in the third quarter. Blue Trust Inc. now owns 1,964 shares of the industrial products company’s stock valued at $1,241,000 after acquiring an additional 473 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in shares of Parker-Hannifin in the 3rd quarter valued at about $222,000. Finally, Cedrus LLC bought a new position in Parker-Hannifin in the third quarter worth approximately $277,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the subject of several analyst reports. Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Jefferies Financial Group lifted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Argus upped their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. UBS Group lowered 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. Finally, Truist Financial increased their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin Stock Up 0.9 %

PH stock opened at $700.13 on Tuesday. The company has a market cap of $90.12 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 2.84 and a beta of 1.45. The firm has a 50-day moving average of $664.47 and a two-hundred day moving average of $640.39. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. 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 (NYSE:PH) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 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%. As a group, analysts forecast that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 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.