Cardinal Strategic Wealth Guidance Takes Position in Parker-Hannifin Co. (NYSE:PH)

Cardinal Strategic Wealth Guidance bought a new position in Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 355 shares of the industrial products company’s stock, valued at approximately $226,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealthcare Capital Partners LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $396,000. Sovran Advisors LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $204,000. Essex Financial Services Inc. raised its position in Parker-Hannifin by 4.1% in the fourth quarter. Essex Financial Services Inc. now owns 1,050 shares of the industrial products company’s stock worth $668,000 after purchasing an additional 41 shares in the last quarter. Focus Financial Network Inc. lifted its stake in Parker-Hannifin by 6.1% during the fourth quarter. Focus Financial Network Inc. now owns 691 shares of the industrial products company’s stock worth $439,000 after purchasing an additional 40 shares during the period. Finally, Sapient Capital LLC boosted its holdings in Parker-Hannifin by 2.5% during the fourth quarter. Sapient Capital LLC now owns 2,713 shares of the industrial products company’s stock valued at $1,726,000 after purchasing an additional 65 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on PH. Citigroup initiated coverage on shares of Parker-Hannifin in a research report on Friday. They issued a “buy” rating and a $795.00 price objective for the company. Mizuho upped their price target on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird lifted their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Stifel Nicolaus upped 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. Finally, Barclays lowered their price target on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Two equities research 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 has an average rating of “Moderate Buy” and an average price target of $729.18.

Parker-Hannifin Trading Down 0.5 %

NYSE PH opened at $680.50 on Tuesday. The stock has a 50 day moving average of $665.57 and a 200-day moving average of $635.64. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company has a market cap of $87.59 billion, a PE ratio of 28.17, a PEG ratio of 2.84 and a beta of 1.45. 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 (NYSE:PH) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, equities research analysts anticipate that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

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.