Avestar Capital LLC Purchases 252 Shares of Parker-Hannifin Co. (NYSE:PH)

Avestar Capital LLC increased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 39.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 897 shares of the industrial products company’s stock after acquiring an additional 252 shares during the period. Avestar Capital LLC’s holdings in Parker-Hannifin were worth $571,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PH. State Street Corp boosted its holdings in shares of 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 in the last quarter. Wellington Management Group LLP boosted its stake in Parker-Hannifin by 39.9% in the third 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 in the last quarter. International Assets Investment Management LLC grew its position in Parker-Hannifin by 64,081.5% in the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock valued at $241,279,000 after acquiring an additional 381,285 shares during the last quarter. World Investment Advisors LLC bought a new position in Parker-Hannifin in the third quarter valued at about $226,570,000. Finally, Mizuho Securities USA LLC raised its stake in Parker-Hannifin by 3,566.4% during the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock worth $229,541,000 after acquiring an additional 353,393 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PH shares. Mizuho raised their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. KeyCorp raised their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Citigroup initiated coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 price target for the company. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a report on Thursday, December 12th. Finally, Wells Fargo & Company boosted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $693.89 on Friday. The stock has a market capitalization of $89.32 billion, a PE ratio of 28.72, a PEG ratio of 2.84 and a beta of 1.45. The business’s 50 day simple moving average is $664.41 and its 200 day simple moving average is $637.78. 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 one year low of $492.71 and a one year high of $718.44.

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%. As a group, research analysts forecast that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is 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.