Pitcairn Co. Purchases 116 Shares of Parker-Hannifin Co. (NYSE:PH)

Pitcairn Co. boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,671 shares of the industrial products company’s stock after buying an additional 116 shares during the period. Pitcairn Co.’s holdings in Parker-Hannifin were worth $2,971,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PH. Global Retirement Partners LLC lifted its holdings in Parker-Hannifin by 1.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after purchasing an additional 15 shares in the last quarter. FFT Wealth Management LLC raised its position in shares of Parker-Hannifin by 1.3% during the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock valued at $732,000 after buying an additional 15 shares during the last quarter. GenTrust LLC lifted its holdings in shares of Parker-Hannifin by 2.9% in the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after buying an additional 15 shares in the last quarter. Grove Bank & Trust boosted its position in shares of Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after acquiring an additional 16 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC grew its stake in Parker-Hannifin by 0.6% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock valued at $1,723,000 after acquiring an additional 16 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PH has been the topic of several research reports. KeyCorp lifted their target price on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. 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. Finally, Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Performance

PH stock opened at $630.09 on Thursday. The firm has a 50-day simple moving average of $654.89 and a two-hundred day simple moving average of $655.17. 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 Co. has a one year low of $492.71 and a one year high of $718.44. The firm has a market cap of $81.11 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 2.85 and a beta of 1.50.

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

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 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.