MONECO Advisors LLC Has $382,000 Stake in Parker-Hannifin Co. (NYSE:PH)

MONECO Advisors LLC grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 32.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 601 shares of the industrial products company’s stock after acquiring an additional 148 shares during the quarter. MONECO Advisors LLC’s holdings in Parker-Hannifin were worth $382,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Prestige Wealth Management Group LLC raised its stake in 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 acquiring an additional 25 shares in the last quarter. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin during the fourth quarter worth about $35,000. Kestra Investment Management LLC bought 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 during the fourth quarter worth about $44,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH opened at $658.64 on Tuesday. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The business’s 50 day moving average price is $665.25 and its two-hundred day moving average price is $647.14. The firm has a market cap of $84.78 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45.

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

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Analysts Set New Price Targets

PH has been the topic of several research reports. Wells Fargo & Company boosted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Barclays reduced their price target on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Jefferies Financial Group boosted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a report on Thursday, December 12th. Finally, Citigroup assumed coverage on Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 price target on the stock. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $739.06.

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.