Intellectus Partners LLC Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

Intellectus Partners LLC acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 2,231 shares of the industrial products company’s stock, valued at approximately $685,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Red Door Wealth Management LLC bought a new stake in Parker-Hannifin during the 2nd quarter valued at $25,000. Clean Yield Group bought a new stake in Parker-Hannifin during the 2nd quarter valued at $33,000. Zions Bancorporation N.A. boosted its position in Parker-Hannifin by 255.0% during the 1st quarter. Zions Bancorporation N.A. now owns 142 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 102 shares in the last quarter. Parisi Gray Wealth Management bought a new stake in Parker-Hannifin during the 2nd quarter valued at $55,000. Finally, SRS Capital Advisors Inc. bought a new stake in Parker-Hannifin during the 2nd quarter valued at $64,000. Institutional investors own 79.08% of the company’s stock.

Shares of NYSE PH traded up $5.64 during trading on Thursday, reaching $291.46. 3,420 shares of the company traded hands, compared to its average volume of 901,803. The firm’s fifty day simple moving average is $291.70 and its 200 day simple moving average is $302.91. The stock has a market cap of $37.47 billion, a P/E ratio of 21.88, a PEG ratio of 1.86 and a beta of 1.77. Parker-Hannifin Co. has a 12-month low of $200.03 and a 12-month high of $324.68. The company has a current ratio of 1.81, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 5th. The industrial products company reported $4.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.32 by $0.06. Parker-Hannifin had a return on equity of 26.68% and a net margin of 12.16%. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the previous year, the business earned $2.55 EPS. Parker-Hannifin’s revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, research analysts expect that Parker-Hannifin Co. will post 17 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Friday, August 27th were paid a $1.03 dividend. The ex-dividend date of this dividend was Thursday, August 26th. This represents a $4.12 annualized dividend and a dividend yield of 1.41%. Parker-Hannifin’s dividend payout ratio is presently 27.39%.

PH has been the topic of several recent research reports. Wells Fargo & Company initiated coverage on Parker-Hannifin in a research report on Thursday, October 7th. They set an “overweight” rating and a $337.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut Parker-Hannifin from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $366.00 to $327.00 in a research report on Friday, August 6th. Stifel Nicolaus reissued a “buy” rating and issued a $364.00 price objective on shares of Parker-Hannifin in a research report on Friday, July 2nd. Vertical Research initiated coverage on Parker-Hannifin in a research report on Friday, October 8th. They issued a “buy” rating and a $337.00 price objective for the company. Finally, BMO Capital Markets raised their price objective on Parker-Hannifin from $365.00 to $375.00 and gave the stock an “outperform” rating in a research report on Thursday, August 26th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $343.40.

Parker-Hannifin Profile

Parker-Hannifin Corp. engages in the manufacture of motion and control technologies and systems. It operates through Diversified Industrial and Aerospace segments. The Diversified Industrial segment sells products to both original equipment manufacturers and distributors who serve the replacement markets in manufacturing, packaging, processing, transportation, mobile construction, refrigeration and air conditioning, agricultural and military machinery, and equipment industries.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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