Soltis Investment Advisors LLC Increases Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Soltis Investment Advisors LLC boosted its position in Parker-Hannifin Co. (NYSE:PH) by 9.8% in the 4th quarter, Holdings Channel reports. The firm owned 649 shares of the industrial products company’s stock after acquiring an additional 58 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Parker-Hannifin were worth $413,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. West Branch Capital LLC purchased a new position in Parker-Hannifin during the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC lifted its stake in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new position in Parker-Hannifin during the fourth quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin during the third quarter worth approximately $39,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $44,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PH shares. TD Cowen boosted their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Robert W. Baird boosted their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. UBS Group reduced their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Argus upped their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, KeyCorp upped 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. 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin Trading Down 0.5 %

PH stock opened at $680.50 on Tuesday. The firm has a market cap of $87.59 billion, a P/E ratio of 28.17, a P/E/G ratio of 2.84 and a beta of 1.45. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The business’s 50 day moving average is $665.57 and its 200-day moving average is $635.64. 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 (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) 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%. Equities analysts anticipate that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is presently 26.99%.

About Parker-Hannifin

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.