Geode Capital Management LLC Has $1.70 Billion Position in Parker-Hannifin Co. (NYSE:PH)

Geode Capital Management LLC boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,677,092 shares of the industrial products company's stock after purchasing an additional 99,261 shares during the quarter. Geode Capital Management LLC owned about 2.08% of Parker-Hannifin worth $1,699,580,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PH. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at $25,000. Millstone Evans Group LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $30,000. Prestige Wealth Management Group LLC lifted its position in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after purchasing an additional 25 shares during the last quarter. Bank of New Hampshire bought a new stake in Parker-Hannifin during the 4th quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded down $39.70 on Friday, hitting $517.00. The stock had a trading volume of 2,254,783 shares, compared to its average volume of 690,734. The company has a market capitalization of $66.55 billion, a price-to-earnings ratio of 21.40, 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 firm's 50 day moving average price is $649.18 and its 200-day moving average price is $654.27. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44.

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

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.26%. Parker-Hannifin's payout ratio is 26.99%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PH shares. Citigroup began coverage on Parker-Hannifin in a research report on Friday, February 7th. They issued a "buy" rating and a $795.00 price objective for the company. Evercore ISI increased their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Truist Financial upped their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. StockNews.com downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Finally, KeyCorp upped their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently 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.