Courier Capital LLC Invests $202,000 in Parker-Hannifin Co. (NYSE:PH)

Courier Capital LLC acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 439 shares of the industrial products company’s stock, valued at approximately $202,000.

Several other hedge funds also recently added to or reduced their stakes in the company. 17 Capital Partners LLC purchased a new stake in Parker-Hannifin in the 4th quarter worth $2,271,000. Comerica Bank increased its position in shares of Parker-Hannifin by 182.9% during the third quarter. Comerica Bank now owns 73,748 shares of the industrial products company’s stock valued at $28,726,000 after acquiring an additional 47,681 shares during the last quarter. US Bancorp DE raised its position in Parker-Hannifin by 4.7% in the third quarter. US Bancorp DE now owns 79,481 shares of the industrial products company’s stock valued at $30,960,000 after purchasing an additional 3,604 shares during the period. Patton Fund Management Inc. lifted its stake in Parker-Hannifin by 146.3% during the 4th quarter. Patton Fund Management Inc. now owns 13,213 shares of the industrial products company’s stock worth $6,087,000 after acquiring an additional 7,849 shares in the last quarter. Finally, Cooper Financial Group boosted its stake in shares of Parker-Hannifin by 55.5% in the fourth quarter. Cooper Financial Group now owns 936 shares of the industrial products company’s stock valued at $431,000 after purchasing an additional 334 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Up 1.6 %

Shares of Parker-Hannifin stock opened at $558.05 on Thursday. Parker-Hannifin Co. has a twelve month low of $308.26 and a twelve month high of $561.13. The stock has a market cap of $71.66 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 2.02 and a beta of 1.52. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. The company has a fifty day moving average price of $516.45 and a 200 day moving average price of $452.96.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the firm posted $4.76 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. Equities research analysts forecast that Parker-Hannifin Co. will post 24.2 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.06%. Parker-Hannifin’s dividend payout ratio is presently 29.31%.

Insider Buying and Selling

In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Mark J. Hart sold 5,197 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,079 shares of company stock valued at $6,099,566 over the last quarter. Corporate insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PH. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Wells Fargo & Company boosted their target price on Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a report on Tuesday, December 19th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $551.00 price objective on shares of Parker-Hannifin in a report on Tuesday, January 2nd. KeyCorp increased their price target on shares of Parker-Hannifin from $500.00 to $575.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Finally, Evercore ISI boosted their target price on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $504.56.

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.