NBC Securities Inc. Makes New $911,000 Investment in Parker-Hannifin Co. (NYSE:PH)

NBC Securities Inc. acquired a new position in Parker-Hannifin Co. (NYSE:PHFree Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,339 shares of the industrial products company’s stock, valued at approximately $911,000.

Several other institutional investors have also added to or reduced their stakes in PH. Cetera Advisor Networks LLC increased its stake in shares of Parker-Hannifin by 8.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 1,496 shares of the industrial products company’s stock worth $425,000 after acquiring an additional 112 shares in the last quarter. Panagora Asset Management Inc. grew its position in Parker-Hannifin by 69.8% during the 1st quarter. Panagora Asset Management Inc. now owns 3,869 shares of the industrial products company’s stock valued at $1,098,000 after purchasing an additional 1,591 shares during the last quarter. Prudential PLC purchased a new stake in Parker-Hannifin during the 1st quarter valued at about $687,000. Moors & Cabot Inc. boosted its holdings in shares of Parker-Hannifin by 270.8% during the 1st quarter. Moors & Cabot Inc. now owns 2,718 shares of the industrial products company’s stock valued at $771,000 after acquiring an additional 1,985 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Parker-Hannifin by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock valued at $2,794,892,000 after acquiring an additional 190,889 shares during the last quarter. 82.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Parker-Hannifin in a report on Thursday, October 5th. They set a “buy” rating on the stock. Bank of America raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their price target for the company from $435.00 to $475.00 in a report on Thursday, October 5th. Stifel Nicolaus reaffirmed a “buy” rating and set a $500.00 price target on shares of Parker-Hannifin in a report on Friday, January 19th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $551.00 price target on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Parker-Hannifin in a report on Monday, December 11th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $465.07.

Check Out Our Latest Report on PH

Parker-Hannifin Stock Performance

Shares of PH traded down $0.21 on Friday, reaching $471.59. The company’s stock had a trading volume of 444,745 shares, compared to its average volume of 515,243. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.89 and a quick ratio of 0.50. The stock has a market capitalization of $60.59 billion, a P/E ratio of 26.18, a PEG ratio of 1.89 and a beta of 1.50. The stock’s 50 day simple moving average is $450.25 and its two-hundred day simple moving average is $417.30. Parker-Hannifin Co. has a 12-month low of $300.86 and a 12-month high of $477.37.

Parker-Hannifin (NYSE:PHGet Free Report) last released its earnings results on Thursday, November 2nd. The industrial products company reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $5.33 by $0.63. Parker-Hannifin had a net margin of 11.92% and a return on equity of 29.56%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.88 billion. During the same quarter last year, the business earned $4.74 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. Research analysts forecast that Parker-Hannifin Co. will post 23.24 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 9th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Thursday, February 8th. Parker-Hannifin’s payout ratio is 32.87%.

Parker-Hannifin Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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