Essex Financial Services Inc. Buys 41 Shares of Parker-Hannifin Co. (NYSE:PH)

Essex Financial Services Inc. raised its stake in Parker-Hannifin Co. (NYSE:PH) by 4.1% in the fourth quarter, Holdings Channel reports. The firm owned 1,050 shares of the industrial products company’s stock after acquiring an additional 41 shares during the quarter. Essex Financial Services Inc.’s holdings in Parker-Hannifin were worth $668,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PH. Grove Bank & Trust grew its stake in shares of Parker-Hannifin by 11.9% in the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock valued at $95,000 after buying an additional 16 shares in the last quarter. Moody Lynn & Lieberson LLC increased its stake in shares of Parker-Hannifin by 0.6% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock worth $1,723,000 after purchasing an additional 16 shares during the last quarter. Everpar Advisors LLC raised its holdings in shares of Parker-Hannifin by 1.3% in the 4th quarter. Everpar Advisors LLC now owns 1,339 shares of the industrial products company’s stock valued at $852,000 after purchasing an additional 17 shares during the period. LVW Advisors LLC lifted its stake in Parker-Hannifin by 0.9% in the 4th quarter. LVW Advisors LLC now owns 1,969 shares of the industrial products company’s stock valued at $1,252,000 after purchasing an additional 17 shares during the last quarter. Finally, Tilia Fiduciary Partners Inc. grew its holdings in Parker-Hannifin by 0.7% during the fourth quarter. Tilia Fiduciary Partners Inc. now owns 2,521 shares of the industrial products company’s stock worth $1,603,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $679.01 on Thursday. The firm has a market cap of $87.40 billion, a PE ratio of 28.10, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45. 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 stock’s fifty day moving average price is $664.76 and its two-hundred day moving average price is $637.49. Parker-Hannifin Co. has a one year low of $492.71 and a one 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 EPS for the quarter, topping 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%. As a group, research analysts expect that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal 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 $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is presently 26.99%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research report on Thursday, December 12th. UBS Group reduced their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. TD Cowen increased their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Citigroup began coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 target price for the company. Finally, Mizuho increased their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin 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.