SlateStone Wealth LLC Has $1.12 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

SlateStone Wealth LLC lifted its stake in Parker-Hannifin Co. (NYSE:PH) by 17.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,758 shares of the industrial products company’s stock after purchasing an additional 255 shares during the quarter. SlateStone Wealth LLC’s holdings in Parker-Hannifin were worth $1,118,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $25,000. Prestige Wealth Management Group LLC boosted its position in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire acquired a new stake in Parker-Hannifin during the 4th quarter worth about $35,000. Kestra Investment Management LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth about $40,000. Finally, Hager Investment Management Services LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 2.8 %

Shares of PH stock opened at $608.17 on Monday. The stock’s 50 day simple moving average is $662.02 and its 200 day simple moving average is $651.99. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The company has a market capitalization of $78.28 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. As a group, research analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.07%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Wall Street Analyst Weigh In

PH has been the subject of a number of research reports. KeyCorp raised their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Citigroup initiated coverage on Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 price objective for the company. Stifel Nicolaus raised their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Evercore ISI raised their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company raised their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.