Oppenheimer & Co. Inc. Has $4.94 Million Stake in Parker-Hannifin Co. (NYSE:PH)

Oppenheimer & Co. Inc. lifted its position in Parker-Hannifin Co. (NYSE:PH) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,767 shares of the industrial products company’s stock after purchasing an additional 719 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Parker-Hannifin were worth $4,940,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PH. Global Retirement Partners LLC raised its stake in Parker-Hannifin by 1.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after acquiring an additional 15 shares in the last quarter. FFT Wealth Management LLC grew its holdings in shares of Parker-Hannifin by 1.3% during the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock worth $732,000 after purchasing an additional 15 shares during the last quarter. GenTrust LLC grew its holdings in shares of Parker-Hannifin by 2.9% during the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 15 shares during the last quarter. Grove Bank & Trust grew its holdings in shares of Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC grew its holdings in shares of Parker-Hannifin by 0.6% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock worth $1,723,000 after purchasing an additional 16 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PH has been the topic of several research analyst reports. TD Cowen increased their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Evercore ISI raised their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Barclays decreased their price target on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Robert W. Baird raised their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Argus raised their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Trading Up 2.3 %

NYSE:PH opened at $670.07 on Friday. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The business’s 50-day moving average price is $666.19 and its two-hundred day moving average price is $648.61. 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 firm has a market capitalization of $86.25 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 2.85 and a beta of 1.45.

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

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders 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 dividend yield of 0.97%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 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.