Cardinal Strategic Wealth Guidance Takes $226,000 Position in Parker-Hannifin Co. (NYSE:PH)

Cardinal Strategic Wealth Guidance purchased a new stake in Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 355 shares of the industrial products company’s stock, valued at approximately $226,000.

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

Parker-Hannifin Trading Down 0.5 %

NYSE PH opened at $680.50 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company’s fifty day moving average price is $665.57 and its two-hundred day moving average price is $635.64. The company has a market capitalization of $87.59 billion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last issued 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 return on equity of 27.34% and a net margin of 15.87%. As a group, research analysts predict that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Analysts Set New Price Targets

PH has been the topic of a number of recent analyst reports. Argus increased their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Mizuho increased their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Jefferies Financial Group upped their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, KeyCorp raised their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $729.18.

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.