Brooklyn FI LLC Takes $636,000 Position in Parker-Hannifin Co. (NYSE:PH)

Brooklyn FI LLC purchased a new stake in shares of Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 960 shares of the industrial products company’s stock, valued at approximately $636,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Xponance Inc. grew its holdings in shares of Parker-Hannifin by 5.7% during the fourth quarter. Xponance Inc. now owns 21,393 shares of the industrial products company’s stock valued at $13,607,000 after buying an additional 1,160 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in Parker-Hannifin in the fourth quarter valued at about $3,838,000. Horizon Investments LLC grew its stake in Parker-Hannifin by 1.4% in the fourth quarter. Horizon Investments LLC now owns 2,115 shares of the industrial products company’s stock valued at $1,342,000 after purchasing an additional 30 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Parker-Hannifin by 45.2% in the fourth quarter. Advisors Asset Management Inc. now owns 11,232 shares of the industrial products company’s stock valued at $7,144,000 after purchasing an additional 3,499 shares in the last quarter. Finally, Tocqueville Asset Management L.P. grew its stake in Parker-Hannifin by 0.3% in the fourth quarter. Tocqueville Asset Management L.P. now owns 72,753 shares of the industrial products company’s stock valued at $46,273,000 after purchasing an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

NYSE PH opened at $629.93 on Thursday. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. 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 stock has a market capitalization of $81.08 billion, a PE ratio of 26.07, a P/E/G ratio of 2.85 and a beta of 1.50. The stock has a 50-day simple moving average of $661.07 and a 200 day simple moving average of $652.16.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. Research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.04%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PH. Stifel Nicolaus boosted their target price on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Wells Fargo & Company boosted their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. KeyCorp boosted their target price on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Jefferies Financial Group upped their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Evercore ISI upped their price target on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $736.65.

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.