Community Financial Services Group LLC Makes New $293,000 Investment in Parker-Hannifin Co. (NYSE:PH)

Community Financial Services Group LLC purchased a new position in Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 461 shares of the industrial products company’s stock, valued at approximately $293,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp lifted its position in Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after acquiring an additional 753,143 shares during the period. FMR LLC raised its stake in shares of Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after purchasing an additional 272,531 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Parker-Hannifin by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock worth $1,623,689,000 after purchasing an additional 29,408 shares during the period. Wellington Management Group LLP boosted its position in Parker-Hannifin by 39.9% in the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after buying an additional 564,365 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Parker-Hannifin by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock worth $1,007,102,000 after buying an additional 59,432 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PH has been the topic of a number of research reports. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Robert W. Baird lifted their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Argus raised their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research note on Thursday, December 12th. Finally, KeyCorp increased their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $729.18.

Parker-Hannifin Stock Up 0.0 %

Shares of NYSE PH opened at $680.72 on Wednesday. The stock has a market cap of $87.62 billion, a PE ratio of 28.18, a P/E/G ratio of 2.84 and a beta of 1.45. The company has a 50-day moving average of $665.16 and a 200 day moving average of $636.60. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. 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 issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.96%. Parker-Hannifin’s dividend payout ratio is currently 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.