Peregrine Asset Advisers Inc. Boosts Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Peregrine Asset Advisers Inc. increased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1,413.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,508 shares of the industrial products company’s stock after buying an additional 7,946 shares during the period. Parker-Hannifin makes up 2.0% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 10th biggest holding. Peregrine Asset Advisers Inc.’s holdings in Parker-Hannifin were worth $5,411,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PH. Prestige Wealth Management Group LLC boosted its position in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new position in Parker-Hannifin in the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC bought a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $40,000. Hager Investment Management Services LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $44,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at $47,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 4.1 %

Shares of PH stock opened at $667.06 on Friday. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The business’s fifty day moving average is $665.65 and its 200 day moving average is $643.57. 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 company has a market capitalization of $85.86 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last announced 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 research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders 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 0.98%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PH shares. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a report on Thursday, December 12th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. TD Cowen raised their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Robert W. Baird lifted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Barclays dropped their price objective on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $739.06.

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.