Cypress Advisory Group LLC Buys New Stake in Parker-Hannifin Co. (NYSE:PH)

Cypress Advisory Group LLC purchased a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,610 shares of the industrial products company's stock, valued at approximately $1,024,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd purchased a new position in Parker-Hannifin during the 4th quarter worth $25,000. Millstone Evans Group LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $30,000. Bank of New Hampshire bought a new stake in Parker-Hannifin during the fourth quarter valued at about $35,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Analysts Set New Price Targets

PH has been the subject of a number of recent analyst reports. KeyCorp raised their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday. Stifel Nicolaus boosted their price target on Parker-Hannifin from $564.00 to $630.00 and gave the stock a "hold" rating in a research note on Friday. Barclays dropped their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. StockNews.com cut Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Finally, Wolfe Research cut Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average target price of $711.88.

Parker-Hannifin Stock Performance

Shares of NYSE PH traded up $9.25 during midday trading on Friday, reaching $619.37. 665,923 shares of the company were exchanged, compared to its average volume of 714,548. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44. The stock has a fifty day simple moving average of $600.70 and a 200 day simple moving average of $645.71. 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 stock has a market cap of $79.73 billion, a P/E ratio of 25.64, a PEG ratio of 2.85 and a beta of 1.36.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping analysts' consensus estimates of $6.72 by $0.22. The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Parker-Hannifin's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.51 EPS. On average, research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a $1.80 dividend. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, May 9th. Parker-Hannifin's dividend payout ratio (DPR) is currently 27.72%.

Parker-Hannifin Company 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.