Soltis Investment Advisors LLC Has $413,000 Position in Parker-Hannifin Co. (NYSE:PH)

Soltis Investment Advisors LLC lifted its stake in Parker-Hannifin Co. (NYSE:PH) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 649 shares of the industrial products company’s stock after buying an additional 58 shares during the period. Soltis Investment Advisors LLC’s holdings in Parker-Hannifin were worth $413,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PH. Savant Capital LLC increased its holdings in shares of Parker-Hannifin by 8.1% in the fourth quarter. Savant Capital LLC now owns 3,710 shares of the industrial products company’s stock valued at $2,359,000 after purchasing an additional 277 shares in the last quarter. Wealthstar Advisors LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth $1,183,000. Newbridge Financial Services Group Inc. bought a new position in shares of Parker-Hannifin during the fourth quarter worth $360,000. Kestra Private Wealth Services LLC boosted its position in shares of Parker-Hannifin by 16.8% during the fourth quarter. Kestra Private Wealth Services LLC now owns 7,982 shares of the industrial products company’s stock worth $5,077,000 after purchasing an additional 1,148 shares in the last quarter. Finally, Investment Advisory Services Inc. TX ADV boosted its position in shares of Parker-Hannifin by 7.0% during the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 398 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 26 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Barclays cut their price objective on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. TD Cowen upped their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Mizuho boosted their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Jefferies Financial Group upped their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $729.18.

Parker-Hannifin Stock Down 0.5 %

NYSE PH opened at $680.50 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average of $665.57 and a two-hundred day moving average of $635.64. The firm has a market capitalization of $87.59 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 2.84 and a beta of 1.45. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week 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 (EPS) for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. On average, analysts predict that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.96%. Parker-Hannifin’s dividend payout ratio (DPR) 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.