Cyrus J. Lawrence LLC Raises Stock Position in Parker-Hannifin Co. (NYSE:PH)

Cyrus J. Lawrence LLC lifted its position in Parker-Hannifin Co. (NYSE:PH) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,736 shares of the industrial products company’s stock after buying an additional 172 shares during the period. Parker-Hannifin makes up about 1.8% of Cyrus J. Lawrence LLC’s portfolio, making the stock its 22nd largest position. Cyrus J. Lawrence LLC’s holdings in Parker-Hannifin were worth $9,372,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $749,000. Virtu Financial LLC acquired a new stake in Parker-Hannifin in the 4th quarter worth approximately $732,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin in the 4th quarter worth approximately $30,000. Washington Trust Bank boosted its stake in Parker-Hannifin by 3,019.5% in the 4th quarter. Washington Trust Bank now owns 15,535 shares of the industrial products company’s stock worth $9,881,000 after purchasing an additional 15,037 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in Parker-Hannifin in the 4th quarter worth approximately $232,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PH. Stifel Nicolaus lifted their target price 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. Evercore ISI lifted their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Jefferies Financial Group lifted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. KeyCorp lifted their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research note on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Stock Performance

PH opened at $622.79 on Friday. 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 firm has a fifty day moving average price of $660.60 and a 200 day moving average price of $652.13. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The stock has a market cap of $80.17 billion, a P/E ratio of 25.78, a P/E/G ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Parker-Hannifin Company 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.