SRS Capital Advisors Inc. Lowers Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

SRS Capital Advisors Inc. lowered its position in Parker-Hannifin Co. (NYSE:PH) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,167 shares of the industrial products company’s stock after selling 24 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Parker-Hannifin were worth $537,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC grew its stake in Parker-Hannifin by 9.6% in the third quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock worth $1,437,096,000 after purchasing an additional 324,063 shares in the last quarter. Invesco Ltd. grew its stake in Parker-Hannifin by 1.8% in the third quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock worth $1,134,069,000 after purchasing an additional 52,739 shares in the last quarter. Northern Trust Corp grew its stake in Parker-Hannifin by 2.9% in the third quarter. Northern Trust Corp now owns 1,310,125 shares of the industrial products company’s stock worth $510,320,000 after purchasing an additional 36,744 shares in the last quarter. Alphinity Investment Management Pty Ltd grew its stake in Parker-Hannifin by 42.2% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock worth $521,861,000 after purchasing an additional 336,370 shares in the last quarter. Finally, Kestra Advisory Services LLC grew its stake in Parker-Hannifin by 7.4% in the third quarter. Kestra Advisory Services LLC now owns 626,760 shares of the industrial products company’s stock worth $244,136,000 after purchasing an additional 43,059 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PH shares. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Barclays lowered their target price on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a report on Friday. Evercore ISI upped their target price on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, Mizuho lifted their price objective on shares of Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $523.94.

Parker-Hannifin Price Performance

PH stock traded up $5.50 during mid-day trading on Friday, reaching $536.18. 874,291 shares of the company’s stock were exchanged, compared to its average volume of 606,289. The company has a market cap of $68.85 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 1.99 and a beta of 1.51. Parker-Hannifin Co. has a 12-month low of $319.14 and a 12-month high of $570.15. The stock’s 50 day moving average is $544.86 and its 200 day moving average is $481.66. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.10 by $0.41. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. Parker-Hannifin’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.93 EPS. On average, research analysts expect that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio is 29.31%.

About Parker-Hannifin

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.