Boothbay Fund Management LLC increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 44.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,703 shares of the industrial products company's stock after purchasing an additional 8,542 shares during the quarter. Boothbay Fund Management LLC's holdings in Parker-Hannifin were worth $17,620,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Whipplewood Advisors LLC bought a new position in Parker-Hannifin in the fourth quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin during the fourth quarter valued at approximately $30,000. Bank of New Hampshire bought a new position in Parker-Hannifin in the fourth quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $40,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.
Parker-Hannifin Trading Up 0.2 %
Shares of Parker-Hannifin stock traded up $1.09 during midday trading on Wednesday, reaching $603.83. The company had a trading volume of 1,184,126 shares, compared to its average volume of 941,577. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a fifty-two week low of $580.65 and a fifty-two week high of $605.78. The stock has a fifty day moving average price of $603.68 and a 200 day moving average price of $646.30. The firm has a market cap of $77.72 billion, a PE ratio of 24.99, a P/E/G ratio of 2.85 and a beta of 1.39.
Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. On average, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.
Parker-Hannifin Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be paid a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, May 9th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.19%. Parker-Hannifin's dividend payout ratio is currently 29.80%.
Wall Street Analyst Weigh In
PH has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. UBS Group dropped their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Barclays lowered their price target on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. KeyCorp cut their price objective on Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Stifel Nicolaus decreased their target price on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of "Moderate Buy" and a consensus target price of $705.35.
Check Out Our Latest Research Report on PH
About Parker-Hannifin
(
Free Report)
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.
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