Empowered Funds LLC Grows Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Empowered Funds LLC lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,879 shares of the industrial products company's stock after acquiring an additional 380 shares during the quarter. Empowered Funds LLC's holdings in Parker-Hannifin were worth $1,831,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp lifted its position in shares of Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock worth $3,918,696,000 after purchasing an additional 753,143 shares during the period. FMR LLC increased its position in shares of Parker-Hannifin by 7.1% in the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company's stock valued at $2,600,733,000 after acquiring an additional 272,531 shares during the period. Geode Capital Management LLC increased its holdings in shares of Parker-Hannifin by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company's stock valued at $1,623,689,000 after purchasing an additional 29,408 shares during the period. Wellington Management Group LLP raised its position in Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock worth $1,249,645,000 after buying an additional 564,365 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Parker-Hannifin by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company's stock valued at $1,007,102,000 after purchasing an additional 59,432 shares during the period. Institutional investors own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Robert W. Baird upped their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Argus raised their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Jefferies Financial Group lifted their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Finally, TD Cowen increased their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the stock a "hold" rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and an average target price of $739.06.

Parker-Hannifin Stock Up 0.9 %

Shares of PH traded up $6.02 during mid-day trading on Wednesday, hitting $701.48. 505,923 shares of the company's stock were exchanged, compared to its average volume of 648,745. 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 market cap of $90.30 billion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 2.87 and a beta of 1.45. The stock's 50-day moving average is $665.08 and its 200-day moving average is $642.79. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) 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%. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin's dividend 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.