First Merchants Corp Boosts Stake in Parker-Hannifin Co. (NYSE:PH)

First Merchants Corp grew its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 590 shares of the industrial products company’s stock after buying an additional 35 shares during the period. First Merchants Corp’s holdings in Parker-Hannifin were worth $375,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PH. Grove Bank & Trust increased its stake in Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 16 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its holdings in shares of Parker-Hannifin by 0.6% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock valued at $1,723,000 after buying an additional 16 shares during the period. Everpar Advisors LLC grew its position in shares of Parker-Hannifin by 1.3% during the 4th quarter. Everpar Advisors LLC now owns 1,339 shares of the industrial products company’s stock valued at $852,000 after buying an additional 17 shares during the last quarter. LVW Advisors LLC raised its stake in Parker-Hannifin by 0.9% during the fourth quarter. LVW Advisors LLC now owns 1,969 shares of the industrial products company’s stock worth $1,252,000 after acquiring an additional 17 shares during the period. Finally, Tilia Fiduciary Partners Inc. lifted its holdings in Parker-Hannifin by 0.7% in the fourth quarter. Tilia Fiduciary Partners Inc. now owns 2,521 shares of the industrial products company’s stock worth $1,603,000 after acquiring an additional 18 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PH. KeyCorp upped their target price on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Jefferies Financial Group increased their target price on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Barclays dropped their price objective on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Citigroup started coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 target price for the company. Two equities 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, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $729.18.

Parker-Hannifin Stock Up 0.9 %

Shares of Parker-Hannifin stock opened at $700.13 on Friday. The stock has a 50 day moving average price of $664.39 and a two-hundred day moving average price of $638.17. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The stock has a market capitalization of $90.12 billion, a P/E ratio of 28.98, a PEG 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 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 analysts expect that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.93%. 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.