Buckley Wealth Management LLC Purchases 23 Shares of Parker-Hannifin Co. (NYSE:PH)

Buckley Wealth Management LLC raised its position in shares of Parker-Hannifin Co. (NYSE:PH) by 2.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 923 shares of the industrial products company’s stock after purchasing an additional 23 shares during the quarter. Buckley Wealth Management LLC’s holdings in Parker-Hannifin were worth $587,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PH. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin during the 4th quarter valued at about $25,000. Prestige Wealth Management Group LLC boosted 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 valued at $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $35,000. Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $40,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $44,000. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Jefferies Financial Group raised their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. UBS Group dropped their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a report on Thursday, December 12th. Finally, Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $608.17 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. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The company has a market capitalization of $78.28 billion, a P/E ratio of 25.17, a P/E/G ratio of 2.85 and a beta of 1.50. The firm’s 50 day simple moving average is $662.02 and its two-hundred day simple moving average is $651.12.

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

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s payout ratio is currently 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.