Nebula Research & Development LLC Takes $810,000 Position in Parker-Hannifin Co. (NYSE:PH)

Nebula Research & Development LLC acquired a new position in Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,273 shares of the industrial products company’s stock, valued at approximately $810,000.

Several other large investors also recently added to or reduced their stakes in PH. Franklin Resources Inc. boosted its position in shares of Parker-Hannifin by 39.2% during the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock valued at $415,409,000 after acquiring an additional 181,859 shares during the last quarter. Howard Capital Management Group LLC bought a new stake in Parker-Hannifin during the fourth quarter valued at approximately $23,390,000. SG Americas Securities LLC lifted its position in Parker-Hannifin by 752.5% during the fourth quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock valued at $15,507,000 after purchasing an additional 21,521 shares during the last quarter. Columbus Macro LLC grew its stake in Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock worth $6,838,000 after buying an additional 8,914 shares in the last quarter. Finally, Congress Asset Management Co. increased its holdings in shares of Parker-Hannifin by 15.5% in the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock worth $121,292,000 after buying an additional 25,605 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $597.68 on Monday. 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 cap of $76.93 billion, a P/E ratio of 24.74, a P/E/G ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a 1-year low of $488.45 and a 1-year high of $718.44. The firm has a 50-day moving average of $607.62 and a 200-day moving average of $646.88.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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%. Sell-side analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be issued a $1.80 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.20%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s payout ratio is 29.80%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Citigroup cut their target price on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a research report on Monday, April 14th. KeyCorp cut their price objective on Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Evercore ISI raised their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Barclays cut their target price on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Finally, UBS Group decreased their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $705.35.

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.