657,475 Shares in Parker-Hannifin Co. (NYSE:PH) Purchased by Capital World Investors

Capital World Investors bought a new stake in Parker-Hannifin Co. (NYSE:PH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 657,475 shares of the industrial products company's stock, valued at approximately $418,174,000. Capital World Investors owned approximately 0.51% of Parker-Hannifin as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PH. Global Retirement Partners LLC grew its holdings in shares of Parker-Hannifin by 1.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock worth $886,000 after acquiring an additional 15 shares during the period. FFT Wealth Management LLC raised its stake in shares of Parker-Hannifin by 1.3% during the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock worth $732,000 after buying an additional 15 shares during the last quarter. GenTrust LLC boosted its position in shares of Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock worth $333,000 after buying an additional 15 shares in the last quarter. Grove Bank & Trust increased its holdings in Parker-Hannifin by 11.9% during the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company's stock valued at $95,000 after acquiring an additional 16 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC raised its position in Parker-Hannifin by 0.6% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company's stock worth $1,723,000 after acquiring an additional 16 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PH. UBS Group dropped their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Citigroup cut their target price on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research note on Monday, April 14th. KeyCorp lowered their price target on shares of Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Truist Financial decreased their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company increased their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Four 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, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus target price of $705.35.

Parker-Hannifin Trading Up 2.8 %

Shares of Parker-Hannifin stock traded up $16.06 during trading hours on Thursday, hitting $596.87. The company's stock had a trading volume of 903,797 shares, compared to its average volume of 848,686. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $76.83 billion, a PE ratio of 24.70, a P/E/G ratio of 2.85 and a beta of 1.39. The business has a fifty day moving average of $611.61 and a 200 day moving average of $647.11. Parker-Hannifin Co. has a 1-year low of $488.45 and a 1-year high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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 forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a dividend of $1.80 per share. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.21%. Parker-Hannifin's payout ratio is presently 26.99%.

Parker-Hannifin Profile

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.