Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. boosted its stake in Parker-Hannifin Co. (NYSE:PH) by 11.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 812 shares of the industrial products company’s stock after buying an additional 85 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Parker-Hannifin were worth $374,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of PH. Wetzel Investment Advisors Inc. purchased a new stake in Parker-Hannifin in the 4th quarter worth approximately $26,000. OFI Invest Asset Management acquired a new position in Parker-Hannifin in the third quarter valued at $25,000. Baystate Wealth Management LLC lifted its position in Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after buying an additional 49 shares during the period. Oakworth Capital Inc. boosted its stake in Parker-Hannifin by 48.3% in the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after buying an additional 28 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in Parker-Hannifin in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE:PH traded up $5.50 during trading on Friday, hitting $536.18. 970,079 shares of the company traded hands, compared to its average volume of 601,506. Parker-Hannifin Co. has a one year low of $319.14 and a one year high of $570.15. The stock has a market capitalization of $68.85 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.93 and a beta of 1.51. The company has a quick ratio of 0.49, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The business’s fifty day moving average is $544.96 and its 200-day moving average is $482.63.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.10 by $0.41. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.93 earnings per share. As a group, equities analysts predict that Parker-Hannifin Co. will post 24.62 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s payout ratio is 27.90%.

Analyst Ratings Changes

A number of research firms recently issued reports on PH. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. KeyCorp lifted their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Evercore ISI increased their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Mizuho increased their price target on Parker-Hannifin from $490.00 to $550.00 and gave the company a “neutral” rating in a report on Friday. Finally, Barclays lowered their target price on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a research note on Friday. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $523.94.

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.