Parker-Hannifin Co. (NYSE:PH) Stock Position Raised by Diversified Enterprises LLC

Diversified Enterprises LLC lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 730 shares of the industrial products company’s stock after buying an additional 20 shares during the period. Diversified Enterprises LLC’s holdings in Parker-Hannifin were worth $464,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Prime Capital Investment Advisors LLC grew its position in Parker-Hannifin by 4.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,419 shares of the industrial products company’s stock worth $897,000 after purchasing an additional 57 shares during the last quarter. Aptus Capital Advisors LLC grew its position in Parker-Hannifin by 5.0% in the 3rd quarter. Aptus Capital Advisors LLC now owns 649 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 31 shares during the last quarter. Empower Advisory Group LLC bought a new position in Parker-Hannifin in the 3rd quarter worth about $224,000. KBC Group NV grew its position in Parker-Hannifin by 272.7% in the 3rd quarter. KBC Group NV now owns 38,633 shares of the industrial products company’s stock worth $24,409,000 after purchasing an additional 28,268 shares during the last quarter. Finally, Metis Global Partners LLC grew its position in Parker-Hannifin by 1.8% in the 3rd quarter. Metis Global Partners LLC now owns 4,107 shares of the industrial products company’s stock worth $2,595,000 after purchasing an additional 74 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PH. Citigroup began coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They issued a “buy” rating and a $795.00 target price for the company. Wells Fargo & Company upped their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Evercore ISI upped their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. KeyCorp upped their price target 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. Finally, Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Up 2.8 %

Shares of NYSE:PH opened at $608.17 on Friday. 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 company has a market cap of $78.28 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The firm has a 50 day simple moving average of $662.02 and a 200 day simple moving average of $651.54.

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, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.07%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Parker-Hannifin Company 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.