Fayez Sarofim & Co Buys Shares of 365 Parker-Hannifin Co. (NYSE:PH)

Fayez Sarofim & Co purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 365 shares of the industrial products company’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $25,000. Millstone Evans Group LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $30,000. Bank of New Hampshire acquired a new position in Parker-Hannifin during the fourth quarter worth $35,000. Finally, Kestra Investment Management LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at $40,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PH. Evercore ISI increased their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Wells Fargo & Company upped 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. Barclays lowered their target price on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. StockNews.com cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Finally, UBS Group cut their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $705.35.

Parker-Hannifin Stock Down 2.5 %

Shares of PH opened at $547.17 on Tuesday. The firm has a market cap of $70.43 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average is $616.54 and its two-hundred day moving average is $648.13. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping 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%. Analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Parker-Hannifin 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.