Centricity Wealth Management LLC Invests $74,000 in Parker-Hannifin Co. (NYSE:PH)

Centricity Wealth Management LLC bought a new stake in Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 116 shares of the industrial products company’s stock, valued at approximately $74,000.

Other institutional investors also recently bought and sold shares of the company. Prestige Wealth Management Group LLC grew 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 worth $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $35,000. Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $40,000. Hager Investment Management Services LLC bought a new stake in shares of Parker-Hannifin in the fourth quarter worth about $44,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Parker-Hannifin during the 4th quarter valued at about $47,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PH has been the subject of several research analyst reports. UBS Group dropped their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Stifel Nicolaus raised their price target on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Evercore ISI lifted their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday. Barclays decreased their price objective on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Jefferies Financial Group lifted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $739.06.

Parker-Hannifin Stock Performance

Shares of PH opened at $667.06 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market cap of $85.86 billion, a P/E ratio of 27.61, a P/E/G ratio of 2.87 and a beta of 1.45. The business’s 50 day moving average price is $665.65 and its 200-day moving average price is $643.57. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating 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 research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is 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.