Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Washington Trust Bank

Washington Trust Bank raised its stake in Parker-Hannifin Co. (NYSE:PH) by 3,019.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,535 shares of the industrial products company’s stock after acquiring an additional 15,037 shares during the period. Washington Trust Bank’s holdings in Parker-Hannifin were worth $9,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Wayfinding Financial LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at $232,000. Lee Danner & Bass Inc. acquired a new position in Parker-Hannifin in the fourth quarter valued at $106,000. Holderness Investments Co. boosted its stake in Parker-Hannifin by 13.8% in the fourth quarter. Holderness Investments Co. now owns 931 shares of the industrial products company’s stock valued at $592,000 after acquiring an additional 113 shares in the last quarter. HUB Investment Partners LLC boosted its stake in Parker-Hannifin by 15.7% in the fourth quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company’s stock valued at $4,960,000 after acquiring an additional 1,057 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in Parker-Hannifin by 13.8% in the fourth quarter. Whittier Trust Co. now owns 3,226 shares of the industrial products company’s stock valued at $2,052,000 after acquiring an additional 392 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 0.3 %

NYSE PH opened at $622.79 on Friday. The stock has a market capitalization of $80.17 billion, a P/E ratio of 25.78, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The firm has a 50-day moving average price of $660.60 and a 200 day moving average price of $652.13. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

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, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Equities research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.05%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Analysts Set New Price Targets

Several research firms have issued reports on PH. KeyCorp upped their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Evercore ISI upped their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Stifel Nicolaus upped their target price 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. StockNews.com cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Jefferies Financial Group upped their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $736.65.

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.