CoreFirst Bank & Trust Takes $127,000 Position in Parker-Hannifin Co. (NYSE:PH)

CoreFirst Bank & Trust purchased a new stake in Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 200 shares of the industrial products company’s stock, valued at approximately $127,000.

Other institutional investors have also recently bought and sold shares of the company. Kingsview Wealth Management LLC lifted its holdings in shares of Parker-Hannifin by 5.1% in the third quarter. Kingsview Wealth Management LLC now owns 1,799 shares of the industrial products company’s stock valued at $1,136,000 after purchasing an additional 87 shares in the last quarter. Centaurus Financial Inc. lifted its stake in Parker-Hannifin by 126.2% in the 3rd quarter. Centaurus Financial Inc. now owns 683 shares of the industrial products company’s stock worth $432,000 after acquiring an additional 381 shares in the last quarter. Fisher Asset Management LLC boosted its position in Parker-Hannifin by 3.9% during the 3rd quarter. Fisher Asset Management LLC now owns 431,801 shares of the industrial products company’s stock worth $272,821,000 after acquiring an additional 16,063 shares during the period. DRW Securities LLC purchased a new position in Parker-Hannifin during the 3rd quarter valued at about $1,037,000. Finally, Associated Banc Corp increased its holdings in shares of Parker-Hannifin by 3.5% in the 3rd quarter. Associated Banc Corp now owns 1,618 shares of the industrial products company’s stock valued at $1,022,000 after purchasing an additional 54 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PH. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research report on Thursday, December 12th. Jefferies Financial Group boosted their price target 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. Barclays cut their price objective on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Stifel Nicolaus boosted their target price on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Finally, KeyCorp raised their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Trading Up 1.4 %

Parker-Hannifin stock opened at $651.41 on Wednesday. The business’s 50-day simple moving average is $660.80 and its 200-day simple moving average is $654.24. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The firm has a market capitalization of $83.85 billion, a PE ratio of 26.96, a PEG ratio of 2.85 and a beta of 1.50. 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 (NYSE:PH) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Equities research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.00%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

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.