BXM Wealth LLC Makes New $253,000 Investment in Parker-Hannifin Co. (NYSE:PH)

BXM Wealth LLC bought a new stake in shares of Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, Holdings Channel reports. The institutional investor bought 398 shares of the industrial products company’s stock, valued at approximately $253,000.

A number of other hedge funds have also bought and sold shares of PH. Franklin Resources Inc. lifted its holdings in shares of Parker-Hannifin by 39.2% in the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock valued at $415,409,000 after buying an additional 181,859 shares during the period. Howard Capital Management Group LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter worth approximately $23,390,000. SG Americas Securities LLC raised its position in shares of Parker-Hannifin by 752.5% in the fourth quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock valued at $15,507,000 after buying an additional 21,521 shares during the last quarter. Wilkinson Global Asset Management LLC lifted its stake in Parker-Hannifin by 59.1% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after purchasing an additional 14,526 shares in the last quarter. Finally, Columbus Macro LLC raised its holdings in shares of Parker-Hannifin by 485.2% during the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock worth $6,838,000 after acquiring an additional 8,914 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

PH stock opened at $700.13 on Friday. The stock has a market capitalization of $90.12 billion, a PE ratio of 28.98, 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. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The company has a 50 day moving average price of $664.39 and a 200 day moving average price of $638.17.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Analysts forecast that Parker-Hannifin Co. will post 26.67 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. Parker-Hannifin’s payout ratio is presently 26.99%.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research analyst reports. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Wells Fargo & Company boosted their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. KeyCorp raised their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Argus lifted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price 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.