Birchcreek Wealth Management LLC Boosts Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Birchcreek Wealth Management LLC raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 9.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 387 shares of the industrial products company’s stock after purchasing an additional 35 shares during the period. Birchcreek Wealth Management LLC’s holdings in Parker-Hannifin were worth $246,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Prestige Wealth Management Group LLC increased its position in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $35,000. Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $40,000. Hager Investment Management Services LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $44,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PH shares. Wells Fargo & Company lifted their price objective 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. Barclays cut their price objective on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. UBS Group cut their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Finally, TD Cowen lifted their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $739.06.

Parker-Hannifin Trading Down 4.1 %

Shares of PH opened at $667.06 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The firm has a 50-day moving average price of $665.56 and a 200 day moving average price of $646.50. The firm has a market capitalization of $85.86 billion, a P/E ratio of 27.61, a P/E/G ratio of 2.85 and a beta of 1.45.

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

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.98%. Parker-Hannifin’s dividend payout ratio is presently 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.