Clearbridge Investments LLC Boosts Stock Position in Parker-Hannifin Co. (NYSE:PH)

Clearbridge Investments LLC lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,207 shares of the industrial products company's stock after purchasing an additional 3,194 shares during the period. Clearbridge Investments LLC owned about 0.17% of Parker-Hannifin worth $135,606,000 as of its most recent filing with the Securities & Exchange Commission.

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

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Parker-Hannifin Stock Down 11.9 %

NYSE PH traded down $74.68 during trading on Thursday, reaching $554.30. 1,254,461 shares of the company's stock were exchanged, compared to its average volume of 681,122. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The stock has a market cap of $71.35 billion, a P/E ratio of 23.02, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. 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 company has a 50 day moving average price of $654.89 and a two-hundred day moving average price of $655.17.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted 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%. On average, equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.18%. Parker-Hannifin's payout ratio is 26.99%.

Analyst Ratings Changes

A number of research firms have weighed in on PH. Wells Fargo & Company boosted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. KeyCorp upped their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Evercore ISI lifted their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Truist Financial increased their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Finally, Citigroup started coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They set a "buy" rating and a $795.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $736.65.

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.