Argentarii LLC Invests $3.54 Million in Parker-Hannifin Co. (NYSE:PH)

Argentarii LLC bought a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,562 shares of the industrial products company’s stock, valued at approximately $3,537,000. Parker-Hannifin makes up about 1.8% of Argentarii LLC’s portfolio, making the stock its 13th largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin during the fourth quarter worth about $25,000. Prestige Wealth Management Group LLC boosted its holdings 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 last quarter. Bank of New Hampshire purchased a new position in Parker-Hannifin during the fourth quarter worth about $35,000. Kestra Investment Management LLC purchased a new position in Parker-Hannifin during the fourth quarter worth about $40,000. Finally, Hager Investment Management Services LLC purchased a new position in Parker-Hannifin during the fourth quarter worth about $44,000. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PH has been the topic of several analyst reports. Jefferies Financial Group boosted their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. UBS Group dropped their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Citigroup started coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 target price on the stock. Finally, TD Cowen boosted their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $635.57 on Friday. The firm’s 50 day simple moving average is $664.88 and its 200 day simple moving average is $650.95. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $81.81 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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%. As a group, analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

About Parker-Hannifin

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.