Canada Pension Plan Investment Board increased its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 24.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 124,465 shares of the industrial products company's stock after buying an additional 24,679 shares during the period. Canada Pension Plan Investment Board owned 0.10% of Parker-Hannifin worth $79,163,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ceredex Value Advisors LLC bought a new position in Parker-Hannifin in the 4th quarter valued at $48,125,000. Verisail Partners LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at $201,000. Main Street Financial Solutions LLC grew its position in Parker-Hannifin by 15.4% during the fourth quarter. Main Street Financial Solutions LLC now owns 562 shares of the industrial products company's stock valued at $358,000 after buying an additional 75 shares during the period. Master S Wealth Management Inc. acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $462,000. Finally, Jump Financial LLC lifted its holdings in Parker-Hannifin by 587.4% in the 4th quarter. Jump Financial LLC now owns 3,011 shares of the industrial products company's stock valued at $1,915,000 after purchasing an additional 2,573 shares in the last quarter. Institutional investors own 82.44% of the company's stock.
Parker-Hannifin Stock Up 3.4 %
Shares of PH stock traded up $19.03 during mid-day trading on Wednesday, hitting $585.68. The stock had a trading volume of 318,078 shares, compared to its average volume of 711,557. The firm has a market capitalization of $75.39 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. The firm's 50-day moving average is $613.99 and its two-hundred day moving average is $647.57. Parker-Hannifin Co. has a 12-month low of $488.45 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.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) 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%. On average, analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.
Parker-Hannifin Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's payout ratio is 26.99%.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Citigroup decreased 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. KeyCorp dropped their price target on Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, Evercore ISI upped their price target on Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus target price of $705.35.
View Our Latest Stock Analysis on PH
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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