Ingalls & Snyder LLC Purchases 23 Shares of Parker-Hannifin Co. (NYSE:PH)

Ingalls & Snyder LLC raised its position in shares of Parker-Hannifin Co. (NYSE:PH) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,611 shares of the industrial products company’s stock after purchasing an additional 23 shares during the quarter. Ingalls & Snyder LLC’s holdings in Parker-Hannifin were worth $5,477,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. West Branch Capital LLC bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC lifted its position in shares of 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 valued at $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at about $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin during the 3rd quarter valued at about $39,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at about $44,000. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Mizuho lifted their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research report on Thursday, December 12th. UBS Group lowered their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company lifted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Robert W. Baird boosted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $729.18.

Parker-Hannifin Stock Performance

NYSE PH opened at $679.01 on Thursday. The company has a market cap of $87.40 billion, a P/E ratio of 28.10, a P/E/G ratio of 2.84 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The business’s 50 day moving average price is $664.76 and its 200-day moving average price is $637.49. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Sell-side analysts predict that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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. This represents a $6.52 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 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.