Chiron Investment Management LLC purchased a new stake in Parker-Hannifin Co. (NYSE:PH - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,793 shares of the industrial products company's stock, valued at approximately $3,685,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Aware Super Pty Ltd as trustee of Aware Super bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $21,060,000. Dagco Inc. boosted its stake in shares of Parker-Hannifin by 5.8% in the 4th quarter. Dagco Inc. now owns 6,362 shares of the industrial products company's stock valued at $4,047,000 after purchasing an additional 351 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new position in shares of Parker-Hannifin during the fourth quarter valued at about $1,416,000. XTX Topco Ltd grew its position in Parker-Hannifin by 181.6% during the 4th quarter. XTX Topco Ltd now owns 1,039 shares of the industrial products company's stock worth $661,000 after acquiring an additional 670 shares during the last quarter. Finally, CreativeOne Wealth LLC increased its stake in shares of Parker-Hannifin by 15.8% in the fourth quarter. CreativeOne Wealth LLC now owns 1,117 shares of the industrial products company's stock worth $711,000 after buying an additional 152 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.
Parker-Hannifin Stock Up 0.3 %
PH stock traded up $1.76 during trading on Friday, hitting $561.21. 558,227 shares of the company's stock were exchanged, compared to its average volume of 711,311. The stock has a market capitalization of $72.24 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 2.85 and a beta of 1.39. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. The business has a 50-day moving average price of $621.56 and a two-hundred day moving average price of $648.89.
Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results 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%. As a group, equities research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.
Parker-Hannifin Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's dividend payout ratio is currently 26.99%.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on PH. Truist Financial reduced their target price on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Stifel Nicolaus lowered their price objective on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating for the company in a research note on Monday. UBS Group cut their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Evercore ISI raised their price objective 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. Finally, Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $705.35.
View Our Latest Stock Report on Parker-Hannifin
Parker-Hannifin Profile
(
Free Report)
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.
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