Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Ossiam

Ossiam boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 246.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,909 shares of the industrial products company's stock after purchasing an additional 6,340 shares during the quarter. Ossiam's holdings in Parker-Hannifin were worth $5,666,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Anchor Investment Management LLC raised its position in shares of Parker-Hannifin by 10.5% during the third quarter. Anchor Investment Management LLC now owns 317 shares of the industrial products company's stock worth $200,000 after acquiring an additional 30 shares during the last quarter. Stock Yards Bank & Trust Co. acquired a new stake in shares of Parker-Hannifin in the 3rd quarter valued at approximately $217,000. World Investment Advisors LLC bought a new stake in Parker-Hannifin in the third quarter valued at approximately $584,000. Wilmington Savings Fund Society FSB raised its holdings in Parker-Hannifin by 176.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 9,108 shares of the industrial products company's stock valued at $5,755,000 after acquiring an additional 5,817 shares during the period. Finally, Tidal Investments LLC increased its position in Parker-Hannifin by 10.8% during the 3rd quarter. Tidal Investments LLC now owns 9,683 shares of the industrial products company's stock worth $6,118,000 after buying an additional 946 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group lowered their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Truist Financial cut their price objective on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Barclays decreased their price target on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, Evercore ISI lifted their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and a consensus price target of $705.35.

Parker-Hannifin Trading Up 2.5 %

PH stock traded up $14.38 during mid-day trading on Wednesday, reaching $581.03. 668,129 shares of the stock traded hands, compared to its average volume of 714,251. The stock has a market capitalization of $74.79 billion, a PE ratio of 24.05, a PEG ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44. The business has a 50-day moving average price of $613.99 and a two-hundred day moving average price of $647.57. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

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

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders 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 dividend yield of 1.12%. Parker-Hannifin's payout ratio is currently 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.