Tyler Stone Wealth Management Reduces Position in Parker-Hannifin Co. (NYSE:PH)

Tyler Stone Wealth Management cut its stake in Parker-Hannifin Co. (NYSE:PH) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,161 shares of the industrial products company’s stock after selling 944 shares during the quarter. Parker-Hannifin accounts for about 3.1% of Tyler Stone Wealth Management’s portfolio, making the stock its 5th biggest position. Tyler Stone Wealth Management’s holdings in Parker-Hannifin were worth $17,275,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in shares of Parker-Hannifin by 39.2% in the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock valued at $415,409,000 after acquiring an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter worth $23,390,000. SG Americas Securities LLC boosted its holdings in shares of Parker-Hannifin by 752.5% in the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock worth $15,507,000 after buying an additional 21,521 shares during the last quarter. Columbus Macro LLC increased its holdings in Parker-Hannifin by 485.2% during the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock worth $6,838,000 after buying an additional 8,914 shares during the last quarter. Finally, Congress Asset Management Co. boosted its stake in Parker-Hannifin by 15.5% in the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock valued at $121,292,000 after acquiring an additional 25,605 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PH. 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 on the stock. Jefferies Financial Group increased 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. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research note on Thursday, December 12th. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Finally, KeyCorp boosted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. 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 presently has an average rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Stock Performance

NYSE:PH opened at $651.41 on Wednesday. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. 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 stock has a market cap of $83.85 billion, a P/E ratio of 26.96, a PEG ratio of 2.85 and a beta of 1.50. The business’s 50-day moving average price is $660.80 and its two-hundred day moving average price is $654.24.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping 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%. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

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.