Farther Finance Advisors LLC Raises Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Farther Finance Advisors LLC grew its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 4.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,261 shares of the industrial products company’s stock after buying an additional 49 shares during the period. Farther Finance Advisors LLC’s holdings in Parker-Hannifin were worth $802,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PH. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin in the 4th quarter worth $25,000. Prestige Wealth Management Group LLC grew 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 purchasing an additional 25 shares in the last quarter. Bank of New Hampshire bought a new stake in Parker-Hannifin during the 4th quarter valued at approximately $35,000. Kestra Investment Management LLC purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC bought a new position in Parker-Hannifin in the 4th quarter worth approximately $44,000. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PH has been the topic of several recent analyst reports. 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 on the stock. 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. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. UBS Group decreased their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Evercore ISI raised their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Stock Up 2.8 %

Shares of NYSE:PH opened at $608.17 on Friday. 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 business has a 50 day simple moving average of $662.02 and a two-hundred day simple moving average of $651.54. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The firm has a market capitalization of $78.28 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 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 analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.07%. 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.