Fruth Investment Management Has $4.08 Million Position in Parker-Hannifin Co. (NYSE:PH)

Fruth Investment Management lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,420 shares of the industrial products company’s stock after selling 120 shares during the period. Parker-Hannifin accounts for about 1.1% of Fruth Investment Management’s holdings, making the stock its 22nd biggest position. Fruth Investment Management’s holdings in Parker-Hannifin were worth $4,083,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. West Branch Capital LLC bought a new stake in Parker-Hannifin in the third quarter worth approximately $25,000. Bangor Savings Bank boosted its holdings in Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC increased its position in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares during the last quarter. Bank of New Hampshire bought a new position in Parker-Hannifin during the fourth quarter valued at about $35,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Parker-Hannifin in the third quarter worth about $39,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Down 0.1 %

Shares of NYSE PH opened at $688.68 on Thursday. The business has a fifty day moving average of $666.34 and a two-hundred day moving average of $632.61. 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 52-week low of $492.71 and a 52-week high of $718.44. The stock has a market cap of $88.65 billion, a PE ratio of 28.50, a PEG ratio of 2.90 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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%. As a group, equities research analysts expect that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Analysts Set New Price Targets

PH has been the topic of several analyst reports. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a report on Thursday, December 12th. TD Cowen increased their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Mizuho upped their price target on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Jefferies Financial Group increased their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Argus boosted their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $725.06.

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.