Bay Colony Advisory Group Inc d b a Bay Colony Advisors Acquires 113 Shares of Parker-Hannifin Co. (NYSE:PH)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,546 shares of the industrial products company’s stock after acquiring an additional 113 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Parker-Hannifin were worth $984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Concurrent Investment Advisors LLC increased its holdings in Parker-Hannifin by 11.4% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 3,015 shares of the industrial products company’s stock worth $1,905,000 after acquiring an additional 308 shares in the last quarter. Forte Capital LLC ADV bought a new position in shares of Parker-Hannifin in the third quarter worth approximately $241,000. Graypoint LLC increased its stake in shares of Parker-Hannifin by 2.4% in the third quarter. Graypoint LLC now owns 1,218 shares of the industrial products company’s stock worth $769,000 after purchasing an additional 29 shares in the last quarter. Portside Wealth Group LLC raised its position in shares of Parker-Hannifin by 4.0% during the 3rd quarter. Portside Wealth Group LLC now owns 599 shares of the industrial products company’s stock valued at $378,000 after purchasing an additional 23 shares during the period. Finally, Granite Group Advisors LLC purchased a new position in shares of Parker-Hannifin during the 3rd quarter valued at $206,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.7 %

Shares of NYSE:PH opened at $635.57 on Friday. The company has a market cap of $81.81 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.85 and a beta of 1.45. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. 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 company has a 50-day moving average price of $664.88 and a 200 day moving average price of $650.47.

Parker-Hannifin (NYSE:PH) last posted 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%. As a group, equities research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PH shares. Barclays cut their price target on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Stifel Nicolaus increased their target price on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. KeyCorp boosted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Citigroup assumed coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 price objective for the company. Finally, Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $739.06.

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.