AssuredPartners Investment Advisors LLC Purchases Shares of 950 Parker-Hannifin Co. (NYSE:PH)

AssuredPartners Investment Advisors LLC purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 950 shares of the industrial products company’s stock, valued at approximately $604,000.

Several other hedge funds have also made changes to their positions in PH. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at $30,000. Prestige Wealth Management Group LLC increased its holdings in shares of 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 purchased a new position in shares of Parker-Hannifin in the 4th quarter worth $35,000. Finally, Kestra Investment Management LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $626.76 on Friday. 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 has a market capitalization of $80.68 billion, a P/E ratio of 25.94, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The company’s 50 day moving average price is $659.79 and its two-hundred day moving average price is $653.92. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44.

Parker-Hannifin (NYSE:PH) last posted 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 return on equity of 27.34% and a net margin of 15.87%. On average, analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.04%. Parker-Hannifin’s payout ratio is currently 26.99%.

Analysts Set New Price Targets

PH has been the subject of several recent research reports. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a report on Thursday, December 12th. Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Wells Fargo & Company upped their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group lowered their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, 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 research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

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.