Parker-Hannifin Co. (NYSE:PH) Shares Bought by Investment Advisory Services Inc. TX ADV

Investment Advisory Services Inc. TX ADV lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 398 shares of the industrial products company’s stock after acquiring an additional 26 shares during the quarter. Investment Advisory Services Inc. TX ADV’s holdings in Parker-Hannifin were worth $253,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. West Branch Capital LLC bought a new position in shares of Parker-Hannifin during the third quarter worth about $25,000. Prestige Wealth Management Group LLC lifted its holdings in 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 worth $35,000 after buying an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Parker-Hannifin in the 3rd quarter valued at approximately $39,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PH shares. Jefferies Financial Group raised their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday. Citigroup initiated coverage on Parker-Hannifin in a report on Friday. They set a “buy” rating and a $795.00 target price for the company. Barclays cut their price target on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Wells Fargo & Company upped their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $729.18.

Parker-Hannifin Price Performance

Shares of PH stock opened at $683.62 on Friday. The firm has a market cap of $88.00 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 2.84 and a beta of 1.45. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $665.57 and a 200 day moving average price of $634.32.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping 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%. Research analysts expect that Parker-Hannifin Co. will post 26.67 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.95%. Parker-Hannifin’s dividend payout ratio is presently 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.