Atria Investments Inc boosted its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,183 shares of the industrial products company's stock after acquiring an additional 935 shares during the quarter. Atria Investments Inc's holdings in Parker-Hannifin were worth $17,289,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $25,000. Prestige Wealth Management Group LLC raised its stake in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at $35,000. Kestra Investment Management LLC acquired a new stake in Parker-Hannifin during the 4th quarter valued at $40,000. Finally, Hager Investment Management Services LLC purchased a new stake in Parker-Hannifin during the 4th quarter worth $44,000. Institutional investors and hedge funds own 82.44% of the company's stock.
Parker-Hannifin Price Performance
Shares of PH stock traded down $8.96 during midday trading on Thursday, reaching $631.09. 986,645 shares of the company were exchanged, compared to its average volume of 625,915. The company's 50 day moving average price is $665.45 and its two-hundred day moving average price is $650.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The company has a market cap of $81.23 billion, a P/E ratio of 26.12, a PEG ratio of 2.85 and a beta of 1.45. 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 released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. On average, sell-side analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.
Parker-Hannifin Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin's payout ratio is currently 26.99%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on PH shares. Barclays dropped their target price on Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Truist Financial increased their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Wolfe Research raised shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price target on the stock in a report on Thursday, December 12th. UBS Group decreased their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a report on Friday, January 31st. Finally, Citigroup initiated coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They issued a "buy" rating and a $795.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $739.06.
Read Our Latest Research Report on PH
About Parker-Hannifin
(
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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