43,293 Shares in Parker-Hannifin Co. (NYSE:PH) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 43,293 shares of the industrial products company's stock, valued at approximately $27,536,000.

Other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. boosted its stake in Parker-Hannifin by 0.3% in the 4th quarter. Sei Investments Co. now owns 232,751 shares of the industrial products company's stock valued at $148,037,000 after buying an additional 639 shares in the last quarter. Mizuho Securities USA LLC grew its position in shares of Parker-Hannifin by 46.4% during the 4th quarter. Mizuho Securities USA LLC now owns 12,200 shares of the industrial products company's stock worth $7,760,000 after buying an additional 3,865 shares during the period. Cyrus J. Lawrence LLC grew its holdings in Parker-Hannifin by 1.2% during the 4th quarter. Cyrus J. Lawrence LLC now owns 14,736 shares of the industrial products company's stock worth $9,372,000 after acquiring an additional 172 shares during the period. Quantbot Technologies LP acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $749,000. Finally, Virtu Financial LLC bought a new position in shares of Parker-Hannifin in the 4th quarter worth $732,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PH. Citigroup started coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a "buy" rating and a $795.00 price target for the company. Evercore ISI increased their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Jefferies Financial Group lifted their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Truist Financial raised their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company boosted their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin presently has an average rating of "Moderate Buy" and an average target price of $736.65.

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Parker-Hannifin Stock Performance

Shares of PH traded down $10.75 during trading hours on Thursday, hitting $626.76. The company had a trading volume of 628,193 shares, compared to its average volume of 646,687. The firm has a market cap of $80.68 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 2.85 and a beta of 1.50. 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 business has a fifty day moving average of $660.41 and a 200-day moving average of $654.11. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Equities analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's payout ratio is 26.99%.

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.