Jackson Wealth Management LLC Has $3 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Jackson Wealth Management LLC increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,709 shares of the industrial products company’s stock after purchasing an additional 33 shares during the quarter. Jackson Wealth Management LLC’s holdings in Parker-Hannifin were worth $2,995,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. West Branch Capital LLC acquired a new position in Parker-Hannifin in the 3rd quarter valued at approximately $25,000. Bangor Savings Bank increased its position in Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 31 shares during the period. Prestige Wealth Management Group LLC increased its position in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire acquired a new position in Parker-Hannifin in the 4th quarter valued at approximately $35,000. Finally, Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin in the 3rd quarter valued at approximately $39,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 0.8 %

Parker-Hannifin stock opened at $690.21 on Wednesday. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The firm has a market capitalization of $88.84 billion, a price-to-earnings ratio of 28.57, a price-to-earnings-growth ratio of 2.90 and a beta of 1.45. The firm’s fifty day moving average price is $666.68 and its two-hundred day moving average price is $631.59. 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 data 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%. On average, equities research analysts predict that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. TD Cowen upped their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Robert W. Baird upped their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. KeyCorp upped their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Mizuho upped their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $725.06.

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.