WIM INVESTMENT MANAGEMENT Ltd Buys Shares of 5,750 Parker-Hannifin Co. (NYSE:PH)

WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,750 shares of the industrial products company’s stock, valued at approximately $3,657,000. Parker-Hannifin accounts for 1.3% of WIM INVESTMENT MANAGEMENT Ltd’s holdings, making the stock its 12th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whipplewood Advisors LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at about $25,000. Prestige Wealth Management Group LLC lifted its stake in 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 last quarter. Bank of New Hampshire purchased a new stake in Parker-Hannifin during the fourth quarter worth approximately $35,000. Kestra Investment Management LLC purchased a new stake in Parker-Hannifin during the fourth quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC purchased a new stake in Parker-Hannifin during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 0.9 %

NYSE:PH opened at $615.86 on Wednesday. The stock’s 50 day simple moving average is $661.29 and its 200-day simple moving average is $652.32. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The firm has a market cap of $79.27 billion, a P/E ratio of 25.49, a PEG ratio of 2.85 and a beta of 1.50. 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 announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. Equities analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm 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. This represents a $6.52 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Wall Street Analysts Forecast Growth

PH has been the subject of several recent analyst reports. Evercore ISI boosted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. UBS Group decreased their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Barclays cut their price target on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Finally, Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

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.