Intact Investment Management Inc. Purchases 560 Shares of Parker-Hannifin Co. (NYSE:PH)

Intact Investment Management Inc. grew its position in shares of Parker-Hannifin Co. (NYSE:PH) by 26.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,700 shares of the industrial products company’s stock after purchasing an additional 560 shares during the quarter. Intact Investment Management Inc.’s holdings in Parker-Hannifin were worth $1,717,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PH. Whipplewood Advisors LLC bought a new position in Parker-Hannifin during the 4th quarter worth approximately $25,000. Prestige Wealth Management Group LLC grew its position in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire bought a new position in Parker-Hannifin during the 4th quarter worth approximately $35,000. Kestra Investment Management LLC bought a new position in Parker-Hannifin during the 4th quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC bought a new position in Parker-Hannifin during the 4th quarter worth approximately $44,000. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PH. Evercore ISI lifted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. UBS Group cut their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research report on Thursday, December 12th. Finally, Stifel Nicolaus lifted their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Stock Up 2.8 %

Shares of NYSE:PH opened at $608.17 on Friday. The stock has a fifty day simple moving average of $662.02 and a two-hundred day simple moving average of $651.12. The stock has a market capitalization of $78.28 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 2.85 and a beta of 1.50. 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.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s 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.