IFP Advisors Inc Increases Stake in Parker-Hannifin Co. (NYSE:PH)

IFP Advisors Inc raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 11.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,160 shares of the industrial products company’s stock after acquiring an additional 627 shares during the quarter. IFP Advisors Inc’s holdings in Parker-Hannifin were worth $3,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Private Advisor Group LLC lifted its position in Parker-Hannifin by 1.8% during the third quarter. Private Advisor Group LLC now owns 5,372 shares of the industrial products company’s stock valued at $3,394,000 after purchasing an additional 95 shares in the last quarter. Dakota Wealth Management raised its stake in shares of Parker-Hannifin by 6.9% in the third quarter. Dakota Wealth Management now owns 1,088 shares of the industrial products company’s stock worth $687,000 after buying an additional 70 shares during the period. Mediolanum International Funds Ltd lifted its position in shares of Parker-Hannifin by 15.0% during the 3rd quarter. Mediolanum International Funds Ltd now owns 2,335 shares of the industrial products company’s stock valued at $1,475,000 after buying an additional 304 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Parker-Hannifin by 3.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,099 shares of the industrial products company’s stock valued at $8,288,000 after acquiring an additional 395 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Parker-Hannifin by 1.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,753 shares of the industrial products company’s stock worth $17,535,000 after acquiring an additional 464 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PH. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Argus lifted their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Robert W. Baird increased their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group boosted their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Evercore ISI increased their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Two equities 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, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $739.06.

Parker-Hannifin Trading Down 1.2 %

Shares of PH opened at $658.64 on Tuesday. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. 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 company’s fifty day moving average is $665.25 and its 200 day moving average is $647.14. The stock has a market capitalization of $84.78 billion, a PE ratio of 27.26, a P/E/G ratio of 2.85 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is 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.