Verus Capital Partners LLC Increases Position in Parker-Hannifin Co. (NYSE:PH)

Verus Capital Partners LLC lifted its stake in Parker-Hannifin Co. (NYSE:PH) by 19.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,754 shares of the industrial products company’s stock after purchasing an additional 286 shares during the quarter. Verus Capital Partners LLC’s holdings in Parker-Hannifin were worth $1,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wakefield Asset Management LLLP boosted its holdings in Parker-Hannifin by 6.9% in the 4th quarter. Wakefield Asset Management LLLP now owns 710 shares of the industrial products company’s stock valued at $452,000 after purchasing an additional 46 shares during the last quarter. Alphinity Investment Management Pty Ltd lifted its holdings in Parker-Hannifin by 5.6% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 845,636 shares of the industrial products company’s stock valued at $537,850,000 after acquiring an additional 45,221 shares during the last quarter. Proficio Capital Partners LLC grew its position in Parker-Hannifin by 116,370.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock worth $725,229,000 after acquiring an additional 1,139,265 shares during the period. Oppenheimer & Co. Inc. increased its stake in Parker-Hannifin by 10.2% during the fourth quarter. Oppenheimer & Co. Inc. now owns 7,767 shares of the industrial products company’s stock worth $4,940,000 after acquiring an additional 719 shares during the last quarter. Finally, Kovack Advisors Inc. increased its stake in Parker-Hannifin by 72.4% during the fourth quarter. Kovack Advisors Inc. now owns 1,017 shares of the industrial products company’s stock worth $647,000 after acquiring an additional 427 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group lowered their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Argus boosted their price target 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. Jefferies Financial Group increased their price objective 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. Finally, TD Cowen boosted their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $739.06.

Parker-Hannifin Price Performance

PH stock opened at $670.07 on Friday. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The firm has a market capitalization of $86.25 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.85 and a beta of 1.45. 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 business’s 50-day moving average is $666.19 and its two-hundred day moving average is $648.61.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) 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%. Analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.97%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Parker-Hannifin Company 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.