Holderness Investments Co. Has $592,000 Stake in Parker-Hannifin Co. (NYSE:PH)

Holderness Investments Co. grew its stake in Parker-Hannifin Co. (NYSE:PH) by 13.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 931 shares of the industrial products company’s stock after buying an additional 113 shares during the period. Holderness Investments Co.’s holdings in Parker-Hannifin were worth $592,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PH. Global Retirement Partners LLC grew its stake in Parker-Hannifin by 1.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock valued at $886,000 after buying an additional 15 shares during the last quarter. FFT Wealth Management LLC grew its position in shares of Parker-Hannifin by 1.3% in the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock valued at $732,000 after purchasing an additional 15 shares during the last quarter. GenTrust LLC increased its stake in shares of Parker-Hannifin by 2.9% in the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 15 shares during the period. Grove Bank & Trust lifted its position in shares of Parker-Hannifin by 11.9% during the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC boosted its stake in Parker-Hannifin by 0.6% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock valued at $1,723,000 after purchasing an additional 16 shares during the period. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PH shares. StockNews.com lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday. Evercore ISI upped their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. KeyCorp raised their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Barclays cut their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Finally, UBS Group decreased 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. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Price Performance

Shares of PH stock opened at $624.61 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The stock’s fifty day simple moving average is $660.75 and its 200 day simple moving average is $651.97. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The firm has a market cap of $80.40 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 2.85 and a beta of 1.50.

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 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%. 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 announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 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.