Townsend Asset Management Corp NC ADV Purchases 774 Shares of Parker-Hannifin Co. (NYSE:PH)

Townsend Asset Management Corp NC ADV boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 14.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,099 shares of the industrial products company’s stock after acquiring an additional 774 shares during the quarter. Parker-Hannifin accounts for approximately 1.4% of Townsend Asset Management Corp NC ADV’s holdings, making the stock its 20th largest position. Townsend Asset Management Corp NC ADV’s holdings in Parker-Hannifin were worth $3,879,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PH. Whipplewood Advisors LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $25,000. Prestige Wealth Management Group LLC grew its position in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire purchased a new stake in Parker-Hannifin during the 4th quarter valued at $35,000. Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth $40,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth $44,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Up 2.6 %

NYSE PH opened at $640.86 on Thursday. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. 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 market cap of $82.49 billion, a PE ratio of 26.53, a P/E/G ratio of 2.85 and a beta of 1.45. The stock’s 50 day moving average is $665.45 and its 200 day moving average is $650.27.

Parker-Hannifin (NYSE:PH) last released its 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 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 will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. Parker-Hannifin’s payout ratio is 26.99%.

Analyst Upgrades and Downgrades

PH has been the topic of a number of recent research reports. UBS Group lowered their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Wells Fargo & Company increased their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” 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 report on Saturday, February 8th. Finally, Citigroup began coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 price objective for the company. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $739.06.

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.