Main Street Research LLC Purchases 782 Shares of Parker-Hannifin Co. (NYSE:PH)

Main Street Research LLC grew its position in Parker-Hannifin Co. (NYSE:PH) by 1.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,370 shares of the industrial products company’s stock after buying an additional 782 shares during the period. Parker-Hannifin accounts for about 2.1% of Main Street Research LLC’s portfolio, making the stock its 23rd largest position. Main Street Research LLC’s holdings in Parker-Hannifin were worth $33,945,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at approximately $25,000. Prestige Wealth Management Group LLC boosted its position in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire purchased a new position in Parker-Hannifin during the 4th quarter worth $35,000. Kestra Investment Management LLC acquired a new position in Parker-Hannifin during the 4th quarter valued at about $40,000. Finally, Hager Investment Management Services LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Barclays dropped their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Citigroup began coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 price target for the company. Stifel Nicolaus boosted their price objective 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. Finally, UBS Group reduced their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $739.06.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $635.57 on Monday. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The company’s fifty day moving average price is $664.88 and its 200 day moving average price is $651.41. The company has a market capitalization of $81.81 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.

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

Parker-Hannifin Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.03%. Parker-Hannifin’s dividend payout ratio (DPR) 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.