Lighthouse Investment Partners LLC Buys 3,000 Shares of Parker-Hannifin Co. (NYSE:PH)

Lighthouse Investment Partners LLC boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 100.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,000 shares of the industrial products company's stock after acquiring an additional 3,000 shares during the period. Lighthouse Investment Partners LLC's holdings in Parker-Hannifin were worth $3,816,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its stake in Parker-Hannifin by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock valued at $886,000 after acquiring an additional 15 shares during the last quarter. FFT Wealth Management LLC boosted its stake in Parker-Hannifin by 1.3% in the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock valued at $732,000 after buying an additional 15 shares in the last quarter. GenTrust LLC grew its position in Parker-Hannifin by 2.9% in the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock valued at $333,000 after acquiring an additional 15 shares during the last quarter. First Manhattan CO. LLC. raised its stake in Parker-Hannifin by 1.0% during the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock worth $1,005,000 after acquiring an additional 15 shares in the last quarter. Finally, Grove Bank & Trust lifted its holdings in shares of Parker-Hannifin by 11.9% in the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company's stock worth $95,000 after acquiring an additional 16 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Argus set a $680.00 price target on shares of Parker-Hannifin in a report on Tuesday, May 6th. UBS Group dropped their price target on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Evercore ISI boosted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Citigroup dropped their target price on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, KeyCorp lifted their price target on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $710.12.

Parker-Hannifin Trading Up 1.2%

Shares of NYSE:PH traded up $8.31 during midday trading on Friday, reaching $680.95. The company's stock had a trading volume of 458,022 shares, compared to its average volume of 721,263. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The firm has a 50 day moving average price of $602.00 and a two-hundred day moving average price of $646.70. The firm has a market capitalization of $87.01 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 2.85 and a beta of 1.36.

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

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.06%. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio is currently 27.72%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president now directly owns 2,083 shares of the company's stock, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.39% of the company's stock.

About Parker-Hannifin

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.