Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its position in Parker-Hannifin Co. (NYSE:PH) by 8.2% in the 4th quarter, HoldingsChannel reports. The firm owned 3,262 shares of the industrial products company’s stock after purchasing an additional 247 shares during the period. Concurrent Investment Advisors LLC’s holdings in Parker-Hannifin were worth $2,074,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after purchasing an additional 753,143 shares during the last quarter. FMR LLC grew its holdings in Parker-Hannifin by 7.1% in the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after buying an additional 272,531 shares during the period. Geode Capital Management LLC grew its holdings in Parker-Hannifin by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock valued at $1,623,689,000 after buying an additional 29,408 shares during the period. Wellington Management Group LLP grew its holdings in Parker-Hannifin by 39.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after buying an additional 564,365 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Parker-Hannifin by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock valued at $1,007,102,000 after buying an additional 59,432 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PH. Stifel Nicolaus lifted their price target on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Argus lifted their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Jefferies Financial Group lifted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Barclays decreased their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Stock Down 4.1 %

NYSE PH opened at $667.06 on Friday. The stock has a market cap of $85.86 billion, a PE ratio of 27.61, a P/E/G ratio of 2.87 and a beta of 1.45. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The business has a 50 day moving average price of $665.65 and a two-hundred day moving average price of $643.57. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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%. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.98%. 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.