Promus Capital LLC Acquires New Position in Parker-Hannifin Co. (NYSE:PH)

Promus Capital LLC acquired a new stake in shares of Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 108 shares of the industrial products company’s stock, valued at approximately $69,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $25,000. Prestige Wealth Management Group LLC raised its stake in 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 worth $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire purchased a new position in Parker-Hannifin during the fourth quarter worth approximately $35,000. Kestra Investment Management LLC purchased a new position in Parker-Hannifin during the fourth quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC purchased a new position in Parker-Hannifin during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on PH shares. Evercore ISI increased their price target 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. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Finally, KeyCorp increased their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $739.06.

Parker-Hannifin Price Performance

PH opened at $640.86 on Thursday. The company has a fifty day simple moving average of $665.45 and a 200 day simple moving average of $650.27. The firm has a market cap of $82.49 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 2.85 and a beta of 1.45. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating 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%. Equities research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 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.