Boothbay Fund Management LLC grew its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 44.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,703 shares of the industrial products company's stock after acquiring an additional 8,542 shares during the quarter. Boothbay Fund Management LLC's holdings in Parker-Hannifin were worth $17,620,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of PH. Norges Bank purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth about $1,106,132,000. Proficio Capital Partners LLC lifted its position in Parker-Hannifin by 116,370.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock worth $725,229,000 after acquiring an additional 1,139,265 shares in the last quarter. Capital World Investors purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $418,174,000. Assenagon Asset Management S.A. grew its position in Parker-Hannifin by 176.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company's stock valued at $278,661,000 after acquiring an additional 279,480 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $175,739,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Truist Financial dropped their target price on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Citigroup reduced their price target on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. Evercore ISI lifted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, UBS Group decreased their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $705.35.
Check Out Our Latest Report on Parker-Hannifin
Parker-Hannifin Stock Performance
PH stock traded down $1.02 on Monday, reaching $597.00. The company's stock had a trading volume of 617,183 shares, compared to its average volume of 715,515. The firm has a fifty day moving average of $605.53 and a two-hundred day moving average of $646.60. 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 has a market capitalization of $76.85 billion, a P/E ratio of 24.71, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week 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 for the quarter, beating analysts' consensus estimates 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 26.71 EPS for the current fiscal year.
Parker-Hannifin Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a $1.80 dividend. The ex-dividend date is Friday, May 9th. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.21%. Parker-Hannifin's dividend payout ratio (DPR) is 29.80%.
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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