Atala Financial Inc Buys Shares of 420 Parker-Hannifin Co. (NYSE:PH)

Atala Financial Inc purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, Holdings Channel.com reports. The firm purchased 420 shares of the industrial products company’s stock, valued at approximately $267,000.

Several other institutional investors have also made changes to their positions in the company. Axxcess Wealth Management LLC bought a new stake in Parker-Hannifin in the third quarter worth $441,000. Venturi Wealth Management LLC lifted its position in shares of Parker-Hannifin by 59.8% in the third quarter. Venturi Wealth Management LLC now owns 278 shares of the industrial products company’s stock worth $176,000 after buying an additional 104 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of Parker-Hannifin by 100.4% during the 3rd quarter. Harbour Investments Inc. now owns 1,511 shares of the industrial products company’s stock worth $955,000 after acquiring an additional 757 shares in the last quarter. Prime Capital Investment Advisors LLC increased its holdings in shares of Parker-Hannifin by 4.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,419 shares of the industrial products company’s stock valued at $897,000 after acquiring an additional 57 shares during the last quarter. Finally, Aigen Investment Management LP raised its stake in shares of Parker-Hannifin by 56.5% in the 3rd quarter. Aigen Investment Management LP now owns 1,066 shares of the industrial products company’s stock valued at $674,000 after acquiring an additional 385 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of recent analyst reports. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a research report on Thursday, December 12th. KeyCorp upped their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Wells Fargo & Company lifted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group decreased their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Barclays dropped their price objective on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research note on Monday. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Down 3.5 %

Shares of PH opened at $591.55 on Friday. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The stock has a market cap of $76.14 billion, a price-to-earnings ratio of 24.48, a P/E/G ratio of 2.85 and a beta of 1.50. The company has a 50-day moving average price of $662.61 and a two-hundred day moving average price of $651.00. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping 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%. Equities analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

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.