Greenwich Wealth Management LLC Boosts Position in Parker-Hannifin Co. (NYSE:PH)

Greenwich Wealth Management LLC grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,320 shares of the industrial products company’s stock after buying an additional 162 shares during the period. Parker-Hannifin accounts for 0.6% of Greenwich Wealth Management LLC’s portfolio, making the stock its 29th biggest position. Greenwich Wealth Management LLC’s holdings in Parker-Hannifin were worth $7,836,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PH. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at $25,000. Prestige Wealth Management Group LLC increased its position in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $35,000. Kestra Investment Management LLC purchased a new position in Parker-Hannifin during the 4th quarter valued at approximately $40,000. Finally, Hager Investment Management Services LLC purchased a new position in Parker-Hannifin during the 4th quarter valued at approximately $44,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PH shares. Wells Fargo & Company raised their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. KeyCorp lifted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Jefferies Financial Group boosted their target price on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Citigroup started coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. Finally, Stifel Nicolaus lifted their price target on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Stock Up 2.8 %

Shares of NYSE PH opened at $608.17 on Friday. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The company has a market cap of $78.28 billion, a P/E ratio of 25.17, a P/E/G ratio of 2.85 and a beta of 1.50. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average price of $662.02 and a 200 day moving average price of $651.54.

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, 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%. Research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.07%. Parker-Hannifin’s dividend payout ratio is presently 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.