Independent Advisor Alliance Grows Stock Position in Parker-Hannifin Co. (NYSE:PH)

Independent Advisor Alliance increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,081 shares of the industrial products company’s stock after buying an additional 440 shares during the quarter. Independent Advisor Alliance’s holdings in Parker-Hannifin were worth $11,500,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC raised its holdings in shares of Parker-Hannifin by 1.1% in 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 raised its holdings in shares of Parker-Hannifin by 1.3% in the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock worth $732,000 after purchasing an additional 15 shares during the period. GenTrust LLC raised its holdings in shares of Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 15 shares during the period. Grove Bank & Trust raised its holdings in shares of Parker-Hannifin by 11.9% in the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16 shares during the period. Finally, Moody Lynn & Lieberson LLC raised its holdings in shares of 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 purchasing an additional 16 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PH shares. Jefferies Financial Group raised their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company raised their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Stifel Nicolaus raised their target price on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Citigroup began coverage on Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. Finally, KeyCorp raised their target price on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $607.29 on Tuesday. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The business has a 50 day moving average price of $664.29 and a two-hundred day moving average price of $651.55. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a market cap of $78.17 billion, a PE ratio of 25.14, a price-to-earnings-growth 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 EPS for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Sell-side analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.07%. Parker-Hannifin’s 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.