TAP Consulting LLC Has $2.53 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

TAP Consulting LLC increased its stake in Parker-Hannifin Co. (NYSE:PH) by 1.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,973 shares of the industrial products company’s stock after buying an additional 58 shares during the period. TAP Consulting LLC’s holdings in Parker-Hannifin were worth $2,527,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PH. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at approximately $25,000. Prestige Wealth Management Group LLC lifted its position 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 valued at $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire bought a new position in Parker-Hannifin during the fourth quarter worth $35,000. Kestra Investment Management LLC acquired a new stake in Parker-Hannifin in the fourth quarter worth $40,000. Finally, Hager Investment Management Services LLC bought a new stake in Parker-Hannifin in the fourth quarter valued at $44,000. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PH shares. Barclays cut their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Wells Fargo & Company raised their price objective on 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 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. Citigroup began coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They issued a “buy” rating and a $795.00 price target for the company. Finally, Jefferies Financial Group upped their price objective 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. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $629.93 on Thursday. The company has a market capitalization of $81.08 billion, a PE ratio of 26.07, a PEG ratio of 2.85 and a beta of 1.50. 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’s 50 day moving average price is $661.07 and its 200-day moving average price is $652.16. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data 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 return on equity of 27.34% and a net margin of 15.87%. On average, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend 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.