Avidian Wealth Enterprises LLC bought a new position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 366 shares of the industrial products company's stock, valued at approximately $233,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of PH. Exchange Traded Concepts LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth about $97,000. Creative Planning boosted its position in shares of Parker-Hannifin by 9.9% during the 3rd quarter. Creative Planning now owns 28,003 shares of the industrial products company's stock worth $17,693,000 after acquiring an additional 2,513 shares in the last quarter. Bfsg LLC boosted its position in shares of Parker-Hannifin by 4,063.4% during the 3rd quarter. Bfsg LLC now owns 1,707 shares of the industrial products company's stock worth $1,078,000 after acquiring an additional 1,666 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Parker-Hannifin by 25.9% in the 3rd quarter. Global Retirement Partners LLC now owns 1,377 shares of the industrial products company's stock valued at $870,000 after purchasing an additional 283 shares during the last quarter. Finally, Buffington Mohr McNeal purchased a new stake in shares of Parker-Hannifin in the 3rd quarter valued at about $3,015,000. 82.44% of the stock is owned by institutional investors and hedge funds.
Parker-Hannifin Trading Up 0.0 %
NYSE:PH traded up $0.10 on Tuesday, hitting $700.35. 319,174 shares of the stock were exchanged, compared to its average volume of 641,547. The stock has a market cap of $90.15 billion, a PE ratio of 28.98, a PEG ratio of 2.84 and a beta of 1.45. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average of $664.75 and a 200-day moving average of $641.55. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44.
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, topping the consensus estimate 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 analysts expect that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.
Parker-Hannifin Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin's payout ratio is 26.99%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the company. StockNews.com raised Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, February 8th. Truist Financial upped their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. KeyCorp upped their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Robert W. Baird upped their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Wolfe Research raised Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 target price for the company in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $729.18.
Check Out Our Latest Stock 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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