Allspring Global Investments Holdings LLC raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,711 shares of the industrial products company's stock after buying an additional 796 shares during the period. Allspring Global Investments Holdings LLC's holdings in Parker-Hannifin were worth $35,701,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PH. West Branch Capital LLC bought a new position in Parker-Hannifin during the third quarter valued at $25,000. Prestige Wealth Management Group LLC raised its stake in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Parker-Hannifin in the third quarter valued at $39,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at $44,000. 82.44% of the stock is owned by hedge funds and other institutional investors.
Parker-Hannifin Price Performance
NYSE PH traded down $0.05 on Tuesday, hitting $700.20. The company had a trading volume of 319,174 shares, compared to its average volume of 641,547. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. 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 company's fifty day moving average price is $664.75 and its 200-day moving average price is $641.55. The company has a market capitalization of $90.13 billion, a PE ratio of 28.98, a PEG ratio of 2.84 and a beta of 1.45.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. As a group, analysts predict that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.
Parker-Hannifin Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.99%.
Wall Street Analyst Weigh In
PH has been the topic of several recent analyst reports. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Jefferies Financial Group increased their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Robert W. Baird increased their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Argus increased their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Finally, KeyCorp increased their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $729.18.
View Our Latest Report on Parker-Hannifin
Parker-Hannifin Company 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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