FIL Ltd Purchases 35,344 Shares of Parker-Hannifin Co. (NYSE:PH)

FIL Ltd lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 36.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 132,781 shares of the industrial products company's stock after buying an additional 35,344 shares during the quarter. FIL Ltd owned about 0.10% of Parker-Hannifin worth $84,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Franklin Resources Inc. grew its stake 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 purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $23,390,000. SG Americas Securities LLC increased its position 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 valued at $15,507,000 after buying an additional 21,521 shares in the last quarter. Columbus Macro LLC boosted its holdings in Parker-Hannifin by 485.2% in the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock worth $6,838,000 after acquiring an additional 8,914 shares in the last quarter. Finally, Congress Asset Management Co. increased its holdings in shares of Parker-Hannifin by 15.5% during 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 in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several research analysts have issued reports on PH shares. StockNews.com cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. UBS Group reduced their target price on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a report on Friday, January 31st. Wells Fargo & Company increased their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Truist Financial reduced their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup dropped their target price on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a report on Monday. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $705.35.

Parker-Hannifin Price Performance

Parker-Hannifin stock traded up $2.61 during mid-day trading on Tuesday, hitting $572.22. The stock had a trading volume of 129,115 shares, compared to its average volume of 859,086. The firm's 50 day moving average is $628.88 and its 200 day moving average is $650.57. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44. The firm has a market capitalization of $73.66 billion, a P/E ratio of 23.68, a P/E/G ratio of 2.85 and a beta of 1.39. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

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 (EPS) for the quarter, beating 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, sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.14%. Parker-Hannifin's payout ratio is 26.99%.

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.