CoreFirst Bank & Trust Purchases Shares of 200 Parker-Hannifin Co. (NYSE:PH)

CoreFirst Bank & Trust acquired a new position in Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 200 shares of the industrial products company’s stock, valued at approximately $127,000.

Several other hedge funds and other institutional investors have also modified their holdings of PH. Global Retirement Partners LLC boosted its position in Parker-Hannifin by 1.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after purchasing an additional 15 shares during the period. FFT Wealth Management LLC boosted its position in shares of Parker-Hannifin by 1.3% in the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock worth $732,000 after buying an additional 15 shares during the period. GenTrust LLC grew its stake in shares of Parker-Hannifin by 2.9% in the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock valued at $333,000 after buying an additional 15 shares in the last quarter. Grove Bank & Trust lifted its position in Parker-Hannifin by 11.9% during the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after acquiring an additional 16 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC boosted its holdings in Parker-Hannifin by 0.6% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock worth $1,723,000 after acquiring an additional 16 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $651.41 on Wednesday. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month 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 firm has a market capitalization of $83.85 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The business has a 50 day simple moving average of $660.80 and a 200 day simple moving average of $654.24.

Parker-Hannifin (NYSE:PH) last issued its quarterly 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, equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s payout ratio is currently 26.99%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PH shares. Jefferies Financial Group boosted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. UBS Group decreased their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company lifted their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Citigroup assumed coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 price objective for the company. Finally, Barclays cut their target price 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. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $736.65.

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.