TCG Advisory Services LLC Purchases New Stake in Parker-Hannifin Co. (NYSE:PH)

TCG Advisory Services LLC acquired a new position in Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,003 shares of the industrial products company’s stock, valued at approximately $462,000.

Several other institutional investors have also recently added to or reduced their stakes in PH. FMR LLC lifted its holdings 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 acquiring an additional 324,063 shares during the last quarter. Invesco Ltd. grew its stake in Parker-Hannifin by 1.8% during the 3rd quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock worth $1,134,069,000 after buying an additional 52,739 shares during the last quarter. Northern Trust Corp increased its position 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 buying an additional 36,744 shares during the period. Alphinity Investment Management Pty Ltd lifted 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 valued at $521,861,000 after buying an additional 336,370 shares during the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in shares of Parker-Hannifin by 7.4% during the third quarter. Kestra Advisory Services LLC now owns 626,760 shares of the industrial products company’s stock valued at $244,136,000 after acquiring an additional 43,059 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

NYSE:PH traded up $5.50 during trading hours on Friday, reaching $536.18. 970,079 shares of the company’s stock were exchanged, compared to its average volume of 601,506. The company has a quick ratio of 0.49, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $68.85 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 1.93 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 business’s 50-day simple moving average is $544.96 and its two-hundred day simple moving average is $483.92.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping the consensus estimate of $6.10 by $0.41. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The company’s revenue was up .3% compared to the same quarter last year. During the same period last year, the company posted $5.93 EPS. Sell-side analysts expect that Parker-Hannifin Co. will post 24.62 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 10th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. Parker-Hannifin’s dividend payout ratio is currently 27.90%.

Analyst Upgrades and Downgrades

PH has been the topic of several recent research reports. Barclays cut their price objective on shares of Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating on the stock in a research report on Friday. Stifel Nicolaus increased their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their target price for the company from $300.00 to $500.00 in a research report on Friday, March 1st. KeyCorp boosted their price target on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Evercore ISI raised their price target on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $523.94.

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.