Newbridge Financial Services Group Inc. Takes $360,000 Position in Parker-Hannifin Co. (NYSE:PH)

Newbridge Financial Services Group Inc. acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, Holdings Channel.com reports. The fund acquired 566 shares of the industrial products company’s stock, valued at approximately $360,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PH. West Branch Capital LLC purchased a new stake in shares of Parker-Hannifin during the third quarter worth about $25,000. Prestige Wealth Management Group LLC grew its stake in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire acquired a new position in Parker-Hannifin in the 4th quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin during the 3rd quarter worth $39,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

PH stock opened at $683.62 on Monday. The firm has a market cap of $88.00 billion, a P/E ratio of 28.30, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The stock has a 50-day simple moving average of $665.57 and a 200-day simple moving average of $634.90.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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 predict that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Analyst Ratings Changes

Several equities analysts recently weighed in on PH shares. Robert W. Baird increased their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. UBS Group cut their price objective 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. Jefferies Financial Group boosted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. TD Cowen increased their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Finally, Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $729.18.

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.