2,227 Shares in Parker-Hannifin Co. (NYSE:PH) Purchased by Canada Post Corp Registered Pension Plan

Canada Post Corp Registered Pension Plan acquired a new stake in Parker-Hannifin Co. (NYSE:PH - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,227 shares of the industrial products company's stock, valued at approximately $1,416,000.

Several other institutional investors have also bought and sold shares of PH. Norges Bank purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at approximately $1,106,132,000. Proficio Capital Partners LLC raised its holdings 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 valued at $725,229,000 after acquiring an additional 1,139,265 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Parker-Hannifin by 176.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company's stock worth $278,661,000 after acquiring an additional 279,480 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth $175,739,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Parker-Hannifin by 41.1% in the fourth quarter. Franklin Resources Inc. now owns 911,075 shares of the industrial products company's stock worth $579,471,000 after acquiring an additional 265,559 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

NYSE:PH traded up $1.76 during mid-day trading on Friday, reaching $561.21. The stock had a trading volume of 558,227 shares, compared to its average volume of 713,205. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44. 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 50 day moving average price of $619.17 and a two-hundred day moving average price of $648.72. The stock has a market capitalization of $72.24 billion, a P/E ratio of 23.23, a P/E/G ratio of 2.85 and a beta of 1.39.

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 for the quarter, topping 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 expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.99%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PH. Wells Fargo & Company increased their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Stifel Nicolaus lowered their price target on shares of Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Truist Financial cut their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. StockNews.com downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Finally, Evercore ISI upped their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average price target of $705.35.

About Parker-Hannifin

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.