Mathes Company Inc. Has $5.83 Million Position in Parker-Hannifin Co. (NYSE:PH)

Mathes Company Inc. reduced its stake in Parker-Hannifin Co. (NYSE:PH) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,164 shares of the industrial products company’s stock after selling 421 shares during the period. Parker-Hannifin accounts for approximately 2.1% of Mathes Company Inc.’s investment portfolio, making the stock its 13th biggest position. Mathes Company Inc.’s holdings in Parker-Hannifin were worth $5,829,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. West Branch Capital LLC bought a new stake in shares of Parker-Hannifin in the third quarter valued at about $25,000. Prestige Wealth Management Group LLC lifted 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 purchasing an additional 25 shares during the period. Bank of New Hampshire bought a new stake in Parker-Hannifin during the fourth quarter worth about $35,000. Northwest Investment Counselors LLC bought a new stake in Parker-Hannifin during the third quarter worth about $39,000. Finally, Hager Investment Management Services LLC bought a new stake in Parker-Hannifin during the fourth quarter worth about $44,000. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. TD Cowen upped their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Jefferies Financial Group upped their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Robert W. Baird increased their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Argus increased their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $729.18.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $700.13 on Monday. The business has a 50 day moving average of $664.47 and a 200-day moving average of $639.83. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The company has a market capitalization of $90.12 billion, a P/E ratio of 28.98, a P/E/G ratio of 2.84 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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%. On average, equities research analysts predict that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 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.