Madison Investment Advisors LLC Invests $79.55 Million in Parker-Hannifin Co. (NYSE:PH)

Madison Investment Advisors LLC bought a new stake in Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 125,068 shares of the industrial products company’s stock, valued at approximately $79,547,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin in the 4th quarter valued at $25,000. Prestige Wealth Management Group LLC increased its holdings in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire bought a new position in Parker-Hannifin during the 4th quarter worth $35,000. Kestra Investment Management LLC bought a new stake in Parker-Hannifin during the fourth quarter worth about $40,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $44,000. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PH shares. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research note on Thursday, December 12th. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Jefferies Financial Group upped their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. KeyCorp increased their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company raised their price objective on 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Performance

PH opened at $613.81 on Thursday. The company has a market cap of $79.01 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. 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 firm’s 50-day moving average price is $663.37 and its 200-day moving average price is $651.41. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its earnings results 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 net margin of 15.87% and a return on equity of 27.34%. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) 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.