Callan Family Office LLC Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

Callan Family Office LLC bought a new stake in Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 3,090 shares of the industrial products company’s stock, valued at approximately $1,965,000.

A number of other hedge funds have also recently modified their holdings of PH. State Street Corp raised its stake in Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after acquiring an additional 753,143 shares during the last quarter. FMR LLC raised its stake in Parker-Hannifin by 7.1% during the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after acquiring an additional 272,531 shares during the last quarter. Geode Capital Management LLC raised its stake in Parker-Hannifin by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock valued at $1,623,689,000 after acquiring an additional 29,408 shares during the last quarter. Wellington Management Group LLP raised its stake in Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after acquiring an additional 564,365 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Parker-Hannifin by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock valued at $1,007,102,000 after acquiring an additional 59,432 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 0.7 %

Shares of PH opened at $635.57 on Friday. 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 $81.81 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The stock’s fifty day simple moving average is $664.88 and its 200 day simple moving average is $650.47. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its earnings results 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 return on equity of 27.34% and a net margin of 15.87%. On average, equities research analysts forecast 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. Investors of record on Friday, February 7th were given 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 (DPR) is currently 26.99%.

Analyst Upgrades and Downgrades

PH has been the subject of several analyst reports. Citigroup initiated coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 price objective for the company. Barclays dropped their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Stifel Nicolaus boosted 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. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Finally, KeyCorp boosted their target price on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $739.06.

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.