Blue Capital Inc. bought a new position in shares of Parker-Hannifin Corporation (NYSE:PH – Free Report) in the 1st quarter, HoldingsChannel reports. The fund bought 2,697 shares of the industrial products company’s stock, valued at approximately $2,414,000. Parker-Hannifin comprises approximately 1.6% of Blue Capital Inc.’s investment portfolio, making the stock its 23rd largest holding.
Other large investors have also added to or reduced their stakes in the company. Texas Capital Bancshares Inc TX bought a new position in Parker-Hannifin during the 3rd quarter valued at $25,000. HFM Investment Advisors LLC grew its stake in shares of Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 30 shares in the last quarter. Lloyd Advisory Services LLC. bought a new stake in shares of Parker-Hannifin in the 4th quarter worth $31,000. Ameriflex Group Inc. raised its holdings in shares of Parker-Hannifin by 366.7% in the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 33 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of Parker-Hannifin by 80.0% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.
Parker-Hannifin Trading Down 0.0%
NYSE:PH opened at $963.45 on Friday. Parker-Hannifin Corporation has a 12 month low of $692.02 and a 12 month high of $1,034.96. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $907.23 and its 200 day moving average is $927.50. The stock has a market capitalization of $121.48 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 2.58 and a beta of 1.11.
Parker-Hannifin Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were paid a $2.00 dividend. The ex-dividend date was Friday, May 8th. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.80. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.51%.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on PH shares. Wall Street Zen cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a research note on Friday, April 10th. Sanford C. Bernstein assumed coverage on shares of Parker-Hannifin in a research report on Tuesday, June 9th. They set an “outperform” rating and a $1,026.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Finally, Evercore set a $1,064.00 target price on Parker-Hannifin in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $1,026.86.
View Our Latest Stock Analysis on PH
About Parker-Hannifin
Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.
Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.
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