Intact Investment Management Inc. lifted its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 26.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,700 shares of the industrial products company's stock after purchasing an additional 560 shares during the period. Intact Investment Management Inc.'s holdings in Parker-Hannifin were worth $1,717,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $25,000. Prestige Wealth Management Group LLC increased its holdings in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $40,000. Finally, Hager Investment Management Services LLC bought a new position in Parker-Hannifin in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 82.44% of the company's stock.
Parker-Hannifin Stock Up 2.2 %
PH traded up $13.53 during trading on Wednesday, hitting $629.93. The company had a trading volume of 814,284 shares, compared to its average volume of 638,744. The company has a market capitalization of $81.08 billion, a PE ratio of 26.07, a PEG ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The firm's 50-day moving average price is $661.29 and its 200 day moving average price is $652.32. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.
Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating the consensus estimate 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, equities analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.
Parker-Hannifin Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.04%. Parker-Hannifin's payout ratio is currently 26.99%.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a research note on Friday, January 31st. UBS Group reduced their price objective 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. Truist Financial raised their price objective 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. StockNews.com raised shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, February 8th. Finally, Wolfe Research raised shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price objective on the stock in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $736.65.
View Our Latest Stock 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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