Mendel Capital Management LLC purchased a new position in Parker-Hannifin Co. (NYSE: PH – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,130 shares of the industrial products company stock, valued at approximately $ 359,000.
Several other large investors also recently modified their holdings of PH. Country Trust Bank bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at about $ 27,000. Consolidated Planning Corp purchased a new stake in Parker-Hannifin in the third quarter valued at approximately $ 34,000. Farmers & Merchants Investments Inc. raised its stake in Parker-Hannifin by 48.0% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 111 shares of the industrial products company stock valued at $ 35,000 after purchasing an additional 36 shares in the last quarter. Equitec Proprietary Markets LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at approximately $ 35,000. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in Parker-Hannifin by 41.9% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 122 shares of the industrial products company stock valued at $ 39,000 after purchasing an additional 36 shares in the last quarter. 80.55% of the stock is currently owned by institutional investors.
Shares of NYSE: PH opened at $ 252.63 on Wednesday. Parker-Hannifin Co. has a 12-month low of $ 249.52 and a 12-month high of $ 340.00. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.69. The company has a market cap of $ 32.43 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.61 and a beta of 1.57. The stock has a 50 day moving average of $ 271.83 and a 200 day moving average of $ 292.39.
Parker-Hannifin (NYSE: PH – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The industrial products company reported $ 4.83 earnings per share for the quarter, topping the consensus estimate of $ 4.61 by $ 0.22. The business had revenue of $ 4.09 billion during the quarter, compared to the estimate consensus of $ 4.07 billion. Parker-Hannifin had a return on equity of 27.07% and a net margin of 10.82%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $ 4.11 EPS. Equities research analysts predict that Parker-Hannifin Co. will post 18.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 3rd. Investors of record on Friday, May 13th were issued a dividend of $ 1.33 per share. This represents a $ 5.32 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Thursday, May 12th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $ 1.03. Parker-Hannifin’s dividend payout ratio is presently 41.14%.
In other Parker-Hannifin news, Director James L. Wainscott bought 1,000 shares of Parker-Hannifin stock in a transaction on Monday, May 9th. The shares were acquired at an average price of $ 273.44 per share, for a total transaction of $ 273,440.00. Following the completion of the purchase, the director now directly owns 18,280 shares in the company, valued at approximately $ 4,998,483.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James L. Wainscott bought 2,000 shares of Parker-Hannifin stock in a transaction on Friday, May 6th. The stock was acquired at an average price of $ 267.78 per share, for a total transaction of $ 535,560.00. Following the purchase, the director now owns 17,280 shares of the company stock, valued at $ 4,627,238.40. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company stock.
A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Parker-Hannifin from $ 380.00 to $ 350.00 and set a “buy” rating on the stock in a research note on Friday, March 4th. Stifel Nicolaus decreased their price target on shares of Parker-Hannifin from $ 384.00 to $ 338.00 and set a “buy” rating on the stock in a research note on Monday, April 18th. Barclays decreased their price target on shares of Parker-Hannifin from $ 376.00 to $ 350.00 and set an “overweight” rating on the stock in a research note on Monday, April 4th. Mizuho decreased their price target on shares of Parker-Hannifin from $ 305.00 to $ 290.00 in a research note on Friday, May 6th. Finally, StockNews.com started coverage on shares of Parker-Hannifin in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Buy” and an average target price of $ 357.85.
Parker-Hannifin Profile: (Get Rating)
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 Company’s Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
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