Edgestream Partners L.P. purchased a new stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 932 shares of the industrial products company's stock, valued at approximately $593,000.
Several other institutional investors have also recently bought and sold shares of the business. Franklin Resources Inc. increased its position in Parker-Hannifin by 39.2% in the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock worth $415,409,000 after purchasing an additional 181,859 shares during the period. Howard Capital Management Group LLC bought a new position in Parker-Hannifin in the 4th quarter valued at about $23,390,000. SG Americas Securities LLC lifted its holdings in Parker-Hannifin by 752.5% during the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock worth $15,507,000 after purchasing an additional 21,521 shares during the last quarter. Columbus Macro LLC lifted its holdings in shares of Parker-Hannifin by 485.2% during the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock worth $6,838,000 after buying an additional 8,914 shares in the last quarter. Finally, Congress Asset Management Co. boosted its position in shares of Parker-Hannifin by 15.5% in the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock valued at $121,292,000 after acquiring an additional 25,605 shares during the period. Institutional investors own 82.44% of the company's stock.
Parker-Hannifin Stock Down 3.5 %
PH traded down $21.59 during midday trading on Thursday, reaching $591.55. 1,471,826 shares of the company were exchanged, compared to its average volume of 635,676. Parker-Hannifin Co. has a one year low of $492.71 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 company's fifty day moving average price is $663.37 and its 200 day moving average price is $651.41. The company has a market cap of $76.14 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.
Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating 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 EPS for the current year.
Parker-Hannifin Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Friday, February 7th. Parker-Hannifin's dividend payout ratio (DPR) is currently 26.99%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on PH. Stifel Nicolaus boosted their price target on Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a research note on Friday, January 31st. Evercore ISI lifted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Truist Financial boosted their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. UBS Group reduced their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Finally, Barclays lowered their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating for the company in a research report on Monday. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $736.65.
Read Our Latest Research Report on Parker-Hannifin
About Parker-Hannifin
(
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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