First Merchants Corp Purchases 35 Shares of Parker-Hannifin Co. (NYSE:PH)

First Merchants Corp grew its position in shares of Parker-Hannifin Co. (NYSE:PH) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 590 shares of the industrial products company’s stock after acquiring an additional 35 shares during the quarter. First Merchants Corp’s holdings in Parker-Hannifin were worth $375,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Exchange Traded Concepts LLC acquired a new stake in Parker-Hannifin in the third quarter valued at $97,000. Creative Planning increased its stake in Parker-Hannifin by 9.9% in the third quarter. Creative Planning now owns 28,003 shares of the industrial products company’s stock valued at $17,693,000 after acquiring an additional 2,513 shares during the last quarter. Bfsg LLC grew its stake in shares of Parker-Hannifin by 4,063.4% during the third quarter. Bfsg LLC now owns 1,707 shares of the industrial products company’s stock worth $1,078,000 after buying an additional 1,666 shares during the last quarter. Global Retirement Partners LLC boosted its position in Parker-Hannifin by 25.9% during the 3rd quarter. Global Retirement Partners LLC now owns 1,377 shares of the industrial products company’s stock worth $870,000 after buying an additional 283 shares during the period. Finally, Buffington Mohr McNeal bought a new stake in shares of Parker-Hannifin in the third quarter worth $3,015,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.9 %

Parker-Hannifin stock opened at $700.13 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The firm has a 50 day moving average of $664.39 and a 200 day moving average of $638.17. The firm has a market capitalization of $90.12 billion, a price-to-earnings ratio of 28.98, a P/E/G ratio of 2.84 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last issued its earnings results 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 26.67 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.93%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Analysts Set New Price Targets

Several research firms have issued reports on PH. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a report on Thursday, December 12th. Citigroup initiated coverage on Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 price objective for the company. KeyCorp raised 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. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. Finally, TD Cowen lifted their price target on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $729.18.

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.