Master S Wealth Management Inc. Takes $462,000 Position in Parker-Hannifin Co. (NYSE:PH)

Master S Wealth Management Inc. purchased a new position in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 726 shares of the industrial products company’s stock, valued at approximately $462,000. Parker-Hannifin makes up 0.2% of Master S Wealth Management Inc.’s investment portfolio, making the stock its 18th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in shares of Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after buying an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC acquired a new stake in Parker-Hannifin during the 4th quarter valued at $23,390,000. SG Americas Securities LLC boosted its stake in Parker-Hannifin by 752.5% in the fourth quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock worth $15,507,000 after purchasing an additional 21,521 shares in the last quarter. Columbus Macro LLC grew its holdings in shares of Parker-Hannifin by 485.2% during the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock worth $6,838,000 after purchasing an additional 8,914 shares during the last quarter. Finally, Congress Asset Management Co. increased its stake in shares of Parker-Hannifin by 15.5% in the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock valued at $121,292,000 after buying an additional 25,605 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PH. StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Barclays dropped their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. KeyCorp decreased their price target on Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Evercore ISI raised their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Citigroup cut their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a report on Monday. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $705.35.

Parker-Hannifin Stock Down 0.2 %

Shares of Parker-Hannifin stock opened at $568.65 on Wednesday. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The company has a market capitalization of $73.20 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. The business has a 50-day moving average of $626.42 and a two-hundred day moving average of $650.00.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 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.