J.W. Cole Advisors Inc. Purchases 83 Shares of Parker-Hannifin Co. (NYSE:PH)

J.W. Cole Advisors Inc. boosted its position in shares of Parker-Hannifin Co. (NYSE:PH – Get Rating) by 6.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,358 shares of the industrial products company’s stock after buying an additional 83 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Parker-Hannifin were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PH. Brinker Capital Investments LLC increased its position in Parker-Hannifin by 39.1% during the 2nd quarter. Brinker Capital Investments LLC now owns 3,694 shares of the industrial products company’s stock valued at $909,000 after purchasing an additional 1,039 shares during the period. State of Alaska Department of Revenue increased its position in Parker-Hannifin by 2.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 18,430 shares of the industrial products company’s stock valued at $4,534,000 after purchasing an additional 355 shares during the period. NewEdge Wealth LLC purchased a new position in Parker-Hannifin during the 2nd quarter valued at $621,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in Parker-Hannifin by 3.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 870,358 shares of the industrial products company’s stock valued at $210,896,000 after purchasing an additional 25,072 shares during the period. Finally, Pinnacle Associates Ltd. increased its position in Parker-Hannifin by 5.8% during the 2nd quarter. Pinnacle Associates Ltd. now owns 1,439 shares of the industrial products company’s stock valued at $354,000 after purchasing an additional 79 shares during the period. 81.32% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $317.49 on Monday. Parker-Hannifin Co. has a one year low of $230.44 and a one year high of $340.00. The company’s 50-day moving average is $298.53 and its 200 day moving average is $280.00. The company has a market capitalization of $40.77 billion, a price-to-earnings ratio of 33.04, a price-to-earnings-growth ratio of 1.41 and a beta of 1.52. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.73 and a current ratio of 1.30.

Parker-Hannifin (NYSE:PH – Get Rating) last posted its earnings results on Thursday, November 3rd. The industrial products company reported $4.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.15 by $0.59. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Parker-Hannifin had a net margin of 7.67% and a return on equity of 28.26%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.26 EPS. Sell-side analysts expect that Parker-Hannifin Co. will post 19.11 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 2nd. Shareholders of record on Monday, November 14th were paid a dividend of $1.33 per share. This represents a $5.32 annualized dividend and a yield of 1.68%. The ex-dividend date was Thursday, November 10th. Parker-Hannifin’s dividend payout ratio is currently 55.36%.

Analyst Ratings Changes

PH has been the topic of a number of research analyst reports. Credit Suisse Group boosted their price objective on shares of Parker-Hannifin from $352.00 to $383.00 and gave the company an “outperform” rating in a research report on Friday, November 4th. Barclays upped their target price on shares of Parker-Hannifin from $330.00 to $343.00 and gave the stock an “overweight” rating in a research report on Thursday, January 5th. Stifel Nicolaus reduced their target price on shares of Parker-Hannifin from $325.00 to $280.00 in a research report on Tuesday, October 11th. Citigroup upped their target price on shares of Parker-Hannifin to $320.00 in a research report on Thursday, November 17th. Finally, Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $315.00 to $335.00 and gave the stock an “overweight” rating in a research report on Thursday, January 5th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $321.45.

About Parker-Hannifin

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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 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.