New Age Alpha Advisors LLC Buys 18,141 Shares of Parker-Hannifin Co. (NYSE:PH)

New Age Alpha Advisors LLC grew its position in shares of Parker-Hannifin Co. (NYSE:PH) by 100,783.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,159 shares of the industrial products company’s stock after purchasing an additional 18,141 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Parker-Hannifin were worth $11,550,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at about $25,000. Millstone Evans Group LLC bought a new stake in Parker-Hannifin during the fourth quarter worth $30,000. Prestige Wealth Management Group LLC raised its position 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 valued at $35,000 after buying an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new position in Parker-Hannifin during the 4th quarter worth $35,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth $40,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PH has been the subject of a number of recent analyst reports. 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 report on Thursday, December 12th. StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Wells Fargo & Company lifted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Stifel Nicolaus raised their target price on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Finally, KeyCorp boosted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $626.76 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The firm has a market cap of $80.68 billion, a P/E ratio of 25.94, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The firm has a 50-day moving average of $659.79 and a 200-day moving average of $653.92.

Parker-Hannifin (NYSE:PH) last posted 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 return on equity of 27.34% and a net margin of 15.87%. Sell-side analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. Parker-Hannifin’s dividend payout ratio is 26.99%.

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.