Fidelis Capital Partners LLC Increases Holdings in Parker-Hannifin Co. (NYSE:PH)

Fidelis Capital Partners LLC grew its holdings in Parker-Hannifin Co. (NYSE:PH) by 39.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,341 shares of the industrial products company’s stock after acquiring an additional 376 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Parker-Hannifin were worth $933,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PH. Franklin Resources Inc. increased its position in Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after buying an additional 181,859 shares during the period. Howard Capital Management Group LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $23,390,000. SG Americas Securities LLC increased its holdings in shares of Parker-Hannifin by 752.5% in the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock valued at $15,507,000 after acquiring an additional 21,521 shares during the period. Columbus Macro LLC raised its position in Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock valued at $6,838,000 after purchasing an additional 8,914 shares during the last quarter. Finally, Congress Asset Management Co. boosted its stake in shares of Parker-Hannifin by 15.5% during the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock worth $121,292,000 after buying an additional 25,605 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. KeyCorp raised 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. TD Cowen increased their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Stifel Nicolaus lifted their price target on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Citigroup initiated coverage on Parker-Hannifin in a research report on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective for the company. Finally, Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research report on Thursday, December 12th. Two investment 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, the company has an average rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Stock Performance

NYSE:PH opened at $648.96 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The firm has a market cap of $83.53 billion, a PE ratio of 26.86, a P/E/G ratio of 2.85 and a beta of 1.45. The firm has a 50 day simple moving average of $666.26 and a 200-day simple moving average of $650.05. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly 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 return on equity of 27.34% and a net margin of 15.87%. On average, equities analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.00%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) 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.