Brooklyn FI LLC purchased a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 960 shares of the industrial products company's stock, valued at approximately $636,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PH. Empowered Funds LLC lifted its holdings in shares of Parker-Hannifin by 13.5% in the 3rd quarter. Empowered Funds LLC now owns 2,499 shares of the industrial products company's stock worth $1,579,000 after buying an additional 298 shares during the period. Thrivent Financial for Lutherans lifted its stake in Parker-Hannifin by 4.8% in the third quarter. Thrivent Financial for Lutherans now owns 39,887 shares of the industrial products company's stock worth $25,201,000 after acquiring an additional 1,825 shares during the period. LMR Partners LLP lifted its stake in Parker-Hannifin by 13.2% in the third quarter. LMR Partners LLP now owns 694 shares of the industrial products company's stock worth $438,000 after acquiring an additional 81 shares during the period. Aviance Capital Partners LLC increased its position in Parker-Hannifin by 9.7% during the 3rd quarter. Aviance Capital Partners LLC now owns 543 shares of the industrial products company's stock valued at $343,000 after purchasing an additional 48 shares during the period. Finally, Pathstone Holdings LLC raised its holdings in shares of Parker-Hannifin by 13.4% in the 3rd quarter. Pathstone Holdings LLC now owns 18,551 shares of the industrial products company's stock valued at $11,721,000 after purchasing an additional 2,186 shares in the last quarter. Institutional investors own 82.44% of the company's stock.
Parker-Hannifin Stock Performance
PH stock traded up $21.11 during midday trading on Monday, reaching $643.21. The stock had a trading volume of 893,752 shares, compared to its average volume of 642,896. 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 firm has a fifty day simple moving average of $660.60 and a two-hundred day simple moving average of $653.19. The stock has a market cap of $82.79 billion, a PE ratio of 26.62, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week 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 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 anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.
Parker-Hannifin Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.01%. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.99%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on PH shares. Citigroup began coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They set a "buy" rating and a $795.00 price objective on the stock. Truist Financial boosted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Stifel Nicolaus raised their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a research report on Friday, January 31st. StockNews.com downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Finally, Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, Parker-Hannifin presently has an average rating of "Moderate Buy" and an average target price of $736.65.
Check Out Our Latest Research 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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