Parker-Hannifin Co. (NYSE:PH) Stock Holdings Increased by Cibc World Markets Corp

Cibc World Markets Corp grew its position in shares of Parker-Hannifin Co. (NYSE:PH) by 16.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,326 shares of the industrial products company’s stock after buying an additional 2,857 shares during the period. Cibc World Markets Corp’s holdings in Parker-Hannifin were worth $12,928,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PH. Whipplewood Advisors LLC bought a new position in Parker-Hannifin during the fourth quarter worth $25,000. Prestige Wealth Management Group LLC raised its holdings 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 during the period. Bank of New Hampshire bought a new position in shares of Parker-Hannifin in the 4th quarter worth about $35,000. Kestra Investment Management LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at about $40,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $622.09 on Tuesday. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a fifty day moving average price of $661.68 and a two-hundred day moving average price of $652.21. The firm has a market cap of $80.08 billion, a P/E ratio of 25.75, a PEG ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Stifel Nicolaus lifted their target price on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Barclays reduced their price objective on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Wells Fargo & Company increased their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Finally, Citigroup began coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective on the stock. Two 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 presently has a consensus rating of “Moderate Buy” and an average price target of $736.65.

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.