Parker-Hannifin Co. (NYSE:PH) Shares Bought by Washington Trust Bank

Washington Trust Bank raised its position in Parker-Hannifin Co. (NYSE:PH) by 3,019.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,535 shares of the industrial products company’s stock after buying an additional 15,037 shares during the period. Washington Trust Bank’s holdings in Parker-Hannifin were worth $9,881,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new stake in Parker-Hannifin in the 4th quarter worth about $232,000. Lee Danner & Bass Inc. acquired a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $106,000. Holderness Investments Co. boosted its holdings in shares of Parker-Hannifin by 13.8% during the 4th quarter. Holderness Investments Co. now owns 931 shares of the industrial products company’s stock worth $592,000 after purchasing an additional 113 shares during the last quarter. HUB Investment Partners LLC boosted its holdings in shares of Parker-Hannifin by 15.7% during the 4th quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company’s stock worth $4,960,000 after purchasing an additional 1,057 shares during the last quarter. Finally, Whittier Trust Co. boosted its holdings in shares of Parker-Hannifin by 13.8% during the 4th quarter. Whittier Trust Co. now owns 3,226 shares of the industrial products company’s stock worth $2,052,000 after purchasing an additional 392 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 0.3 %

Parker-Hannifin stock opened at $622.79 on Friday. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The stock’s fifty day simple moving average is $660.60 and its 200-day simple moving average is $652.13. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $80.17 billion, a P/E ratio of 25.78, a P/E/G ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last posted 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%. As a group, equities analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.05%. Parker-Hannifin’s payout ratio is currently 26.99%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PH shares. Evercore ISI boosted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Citigroup started coverage on Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. KeyCorp boosted their target price on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Jefferies Financial Group lifted their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Barclays reduced their price target on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.