Millstone Evans Group LLC Takes Position in Parker-Hannifin Co. (NYSE:PH)

Millstone Evans Group LLC purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, Holdings Channel.com reports. The fund purchased 47 shares of the industrial products company’s stock, valued at approximately $30,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Parker-Hannifin by 3.3% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 9,771 shares of the industrial products company’s stock worth $6,174,000 after acquiring an additional 309 shares in the last quarter. Kingsview Wealth Management LLC raised its position in shares of Parker-Hannifin by 5.1% in the 3rd quarter. Kingsview Wealth Management LLC now owns 1,799 shares of the industrial products company’s stock valued at $1,136,000 after purchasing an additional 87 shares in the last quarter. Swedbank AB raised its position in shares of Parker-Hannifin by 377.8% in the 3rd quarter. Swedbank AB now owns 158,085 shares of the industrial products company’s stock valued at $99,881,000 after purchasing an additional 125,000 shares in the last quarter. Centaurus Financial Inc. boosted its stake in shares of Parker-Hannifin by 126.2% during the 3rd quarter. Centaurus Financial Inc. now owns 683 shares of the industrial products company’s stock valued at $432,000 after buying an additional 381 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Parker-Hannifin by 14.0% during the third quarter. Daiwa Securities Group Inc. now owns 31,228 shares of the industrial products company’s stock worth $19,730,000 after buying an additional 3,841 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PH. KeyCorp increased their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. 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 report on Thursday, December 12th. Barclays reduced their target price on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Stock Up 3.4 %

PH opened at $643.21 on Tuesday. The stock’s 50 day moving average price is $660.71 and its 200 day moving average price is $653.67. 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 has a market cap of $82.79 billion, a P/E ratio of 26.62, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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%. As a group, research analysts predict 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. 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 1.01%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) 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.