Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Venturi Wealth Management LLC

Venturi Wealth Management LLC raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 329.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,193 shares of the industrial products company’s stock after purchasing an additional 915 shares during the period. Venturi Wealth Management LLC’s holdings in Parker-Hannifin were worth $759,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PH. Prestige Wealth Management Group LLC grew its holdings in shares of 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 valued at $35,000 after buying an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new stake in Parker-Hannifin in the third quarter valued at $39,000. Hager Investment Management Services LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at $44,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at $47,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $701.48 on Thursday. The firm has a 50 day simple moving average of $665.08 and a 200-day simple moving average of $642.79. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The stock has a market cap of $90.30 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 2.87 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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%. On average, analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current 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 given 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 0.93%. Parker-Hannifin’s payout ratio is currently 26.99%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Evercore ISI upped their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday. Robert W. Baird upped their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Jefferies Financial Group upped their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, UBS Group decreased their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Two research 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 stock currently has a consensus rating of “Moderate Buy” and an average target price of $739.06.

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.