Wealthstar Advisors LLC Acquires New Holdings in Parker-Hannifin Co. (NYSE:PH)

Wealthstar Advisors LLC bought a new position in Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, HoldingsChannel reports. The firm bought 1,860 shares of the industrial products company’s stock, valued at approximately $1,183,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. West Branch Capital LLC bought a new stake in Parker-Hannifin during the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC increased its position in shares of Parker-Hannifin by 83.3% during the third 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 in the last quarter. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth $35,000. Northwest Investment Counselors LLC bought a new stake in Parker-Hannifin in the 3rd quarter valued at $39,000. Finally, Hager Investment Management Services LLC acquired a new position in Parker-Hannifin in the 4th quarter worth $44,000. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PH shares. Argus boosted their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. KeyCorp upped their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Mizuho lifted their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. 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, Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $729.18.

Parker-Hannifin Stock Down 1.2 %

PH stock opened at $683.62 on Monday. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The business’s 50 day simple moving average is $665.57 and its 200 day simple moving average is $634.90. 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 firm has a market capitalization of $88.00 billion, a PE ratio of 28.30, a PEG ratio of 2.84 and a beta of 1.45.

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 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%. As a group, research analysts anticipate that Parker-Hannifin Co. will post 26.67 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. Stockholders of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Parker-Hannifin 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.