Guardian Capital LP Purchases 12,467 Shares of Parker-Hannifin Co. (NYSE:PH)

Guardian Capital LP raised its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 613.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,499 shares of the industrial products company's stock after acquiring an additional 12,467 shares during the period. Guardian Capital LP's holdings in Parker-Hannifin were worth $9,222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of PH. Anchor Investment Management LLC lifted its stake in Parker-Hannifin by 10.5% in the 3rd quarter. Anchor Investment Management LLC now owns 317 shares of the industrial products company's stock valued at $200,000 after acquiring an additional 30 shares in the last quarter. Stock Yards Bank & Trust Co. bought a new position in shares of Parker-Hannifin in the 3rd quarter valued at about $217,000. World Investment Advisors LLC acquired a new position in Parker-Hannifin during the third quarter valued at approximately $584,000. Wilmington Savings Fund Society FSB increased its position in shares of Parker-Hannifin by 176.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 9,108 shares of the industrial products company's stock worth $5,755,000 after purchasing an additional 5,817 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of Parker-Hannifin by 10.8% in the 3rd quarter. Tidal Investments LLC now owns 9,683 shares of the industrial products company's stock valued at $6,118,000 after buying an additional 946 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

PH has been the subject of several recent analyst reports. UBS Group cut their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Citigroup lowered their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company upped their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Evercore ISI increased their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, KeyCorp upped their price objective on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $711.88.

Parker-Hannifin Stock Up 0.1 %

Shares of PH stock traded up $0.63 on Monday, reaching $619.65. 284,908 shares of the company were exchanged, compared to its average volume of 712,874. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The company has a 50-day moving average of $600.70 and a 200-day moving average of $645.75. The company has a market cap of $79.76 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44.

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, beating analysts' consensus estimates of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The firm had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter last year, the firm posted $6.51 earnings per share. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. Analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.16%. Parker-Hannifin's payout ratio is presently 27.72%.

Parker-Hannifin 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.