Oarsman Capital Inc. Acquires 450 Shares of Parker-Hannifin Co. (NYSE:PH)

Oarsman Capital Inc. increased its stake in Parker-Hannifin Co. (NYSE:PH) by 29.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,972 shares of the industrial products company’s stock after acquiring an additional 450 shares during the period. Oarsman Capital Inc.’s holdings in Parker-Hannifin were worth $1,254,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $23,876,000. Orion Investment Co increased its holdings in shares of Parker-Hannifin by 0.3% during the fourth quarter. Orion Investment Co now owns 13,810 shares of the industrial products company’s stock worth $8,784,000 after buying an additional 35 shares in the last quarter. Systematic Alpha Investments LLC bought a new position in Parker-Hannifin in the fourth quarter valued at about $712,000. Pitcairn Co. increased its holdings in Parker-Hannifin by 2.5% in the fourth quarter. Pitcairn Co. now owns 4,671 shares of the industrial products company’s stock valued at $2,971,000 after purchasing an additional 116 shares during the period. Finally, Arete Wealth Advisors LLC lifted its position in shares of Parker-Hannifin by 11.1% in the 4th quarter. Arete Wealth Advisors LLC now owns 2,150 shares of the industrial products company’s stock worth $1,369,000 after purchasing an additional 214 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. KeyCorp increased their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Barclays cut their price objective on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Finally, Stifel Nicolaus raised their target price on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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 $517.00 on Friday. 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 current ratio of 1.06 and a quick ratio of 0.59. The company’s 50-day moving average is $649.18 and its 200 day moving average is $653.93. The stock has a market capitalization of $66.55 billion, a P/E ratio of 21.40, a P/E/G ratio of 2.85 and a beta of 1.50.

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

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 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.