Ascent Wealth Partners LLC Buys Shares of 1,912 Parker-Hannifin Co. (NYSE:PH)

Ascent Wealth Partners LLC bought a new position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,912 shares of the industrial products company's stock, valued at approximately $1,216,000.

A number of other large investors also recently modified their holdings of the company. Private Advisor Group LLC lifted its holdings in Parker-Hannifin by 1.8% during the third quarter. Private Advisor Group LLC now owns 5,372 shares of the industrial products company's stock valued at $3,394,000 after purchasing an additional 95 shares during the last quarter. Dakota Wealth Management raised its holdings in Parker-Hannifin by 6.9% during the 3rd quarter. Dakota Wealth Management now owns 1,088 shares of the industrial products company's stock valued at $687,000 after acquiring an additional 70 shares during the period. Silver Oak Securities Incorporated boosted its holdings in shares of Parker-Hannifin by 7,972.7% in the third quarter. Silver Oak Securities Incorporated now owns 1,776 shares of the industrial products company's stock worth $1,124,000 after acquiring an additional 1,754 shares during the period. Busey Bank raised its stake in shares of Parker-Hannifin by 4.0% during the 3rd quarter. Busey Bank now owns 605 shares of the industrial products company's stock valued at $382,000 after purchasing an additional 23 shares during the period. Finally, Ballentine Partners LLC boosted its stake in Parker-Hannifin by 7.6% in the 3rd quarter. Ballentine Partners LLC now owns 1,498 shares of the industrial products company's stock worth $946,000 after purchasing an additional 106 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PH has been the topic of a number of research reports. StockNews.com raised Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, February 8th. Barclays reduced their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Wolfe Research raised Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 target price on the stock in a report on Thursday, December 12th. Finally, Truist Financial boosted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Two 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $739.06.

Parker-Hannifin Stock Down 0.3 %

Shares of NYSE PH traded down $2.27 during midday trading on Monday, hitting $664.70. The company's stock had a trading volume of 351,486 shares, compared to its average volume of 650,179. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The firm has a market capitalization of $85.56 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The business's fifty day simple moving average is $665.56 and its two-hundred day simple moving average is $646.50.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating the consensus estimate 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, equities analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.98%. Parker-Hannifin's dividend payout ratio is presently 26.99%.

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.