Promus Capital LLC Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

Promus Capital LLC purchased a new position in Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 108 shares of the industrial products company’s stock, valued at approximately $69,000.

A number of other large investors also recently modified their holdings of the business. Global Retirement Partners LLC lifted its position in shares of Parker-Hannifin by 1.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after buying an additional 15 shares during the last quarter. FFT Wealth Management LLC lifted its position in shares of Parker-Hannifin by 1.3% in the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock worth $732,000 after buying an additional 15 shares during the last quarter. GenTrust LLC lifted its position in shares of Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after buying an additional 15 shares during the last quarter. Grove Bank & Trust lifted its position in Parker-Hannifin by 11.9% in the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 16 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC lifted its position in Parker-Hannifin by 0.6% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock valued at $1,723,000 after purchasing an additional 16 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PH shares. Citigroup started coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective on the stock. Evercore ISI lifted their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research report on Thursday, December 12th. Barclays cut their price objective on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Wells Fargo & Company lifted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $739.06.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $640.86 on Thursday. The stock has a market capitalization of $82.49 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 2.85 and a beta of 1.45. 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 52 week low of $492.71 and a 52 week high of $718.44. The firm has a fifty day moving average of $665.45 and a two-hundred day moving average of $650.27.

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

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.02%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

About Parker-Hannifin

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.