L.M. Kohn & Company Purchases 40 Shares of Parker-Hannifin Co. (NYSE:PH)

L.M. Kohn & Company lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,103 shares of the industrial products company’s stock after acquiring an additional 40 shares during the quarter. L.M. Kohn & Company’s holdings in Parker-Hannifin were worth $1,338,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. West Branch Capital LLC bought a new stake in Parker-Hannifin in the third quarter worth $25,000. Prestige Wealth Management Group LLC boosted its stake 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 valued at $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire bought a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin in the third quarter worth $39,000. Finally, Hager Investment Management Services LLC bought a new stake in Parker-Hannifin during the 4th quarter valued at $44,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $700.13 on Friday. The business has a fifty day moving average price of $664.47 and a 200-day moving average price of $639.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The company has a market capitalization of $90.12 billion, a PE ratio of 28.98, a PEG ratio of 2.84 and a beta of 1.45. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (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%. As a group, equities analysts expect that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is currently 26.99%.

Wall Street Analyst Weigh In

PH has been the subject of several recent analyst reports. Robert W. Baird upped their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. UBS Group dropped their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research note on Thursday, December 12th. Argus lifted their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $729.18.

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.