Russell Investments Group Ltd. Grows Position in Parker-Hannifin Co. (NYSE:PH)

Russell Investments Group Ltd. raised its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,003 shares of the industrial products company's stock after buying an additional 5,542 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of Parker-Hannifin worth $54,707,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Quantinno Capital Management LP boosted its stake in Parker-Hannifin by 34.3% during the third quarter. Quantinno Capital Management LP now owns 7,979 shares of the industrial products company's stock worth $5,042,000 after acquiring an additional 2,039 shares in the last quarter. Insigneo Advisory Services LLC raised its holdings in shares of Parker-Hannifin by 10.4% during the third quarter. Insigneo Advisory Services LLC now owns 1,562 shares of the industrial products company's stock valued at $987,000 after purchasing an additional 147 shares during the period. EP Wealth Advisors LLC boosted its position in shares of Parker-Hannifin by 25.7% during the 3rd quarter. EP Wealth Advisors LLC now owns 3,432 shares of the industrial products company's stock worth $2,168,000 after purchasing an additional 701 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Parker-Hannifin by 57.8% in the 3rd quarter. National Bank of Canada FI now owns 113,554 shares of the industrial products company's stock valued at $71,746,000 after buying an additional 41,577 shares during the period. Finally, Legacy Investment Solutions LLC bought a new stake in Parker-Hannifin in the 3rd quarter valued at about $159,000. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on PH shares. Evercore ISI increased their price target on Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Truist Financial cut their target price on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a report on Tuesday. StockNews.com lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. 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. Finally, Citigroup assumed coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They set a "buy" rating and a $795.00 price objective for the company. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $720.47.

Parker-Hannifin Stock Performance

Shares of NYSE PH traded up $4.60 during mid-day trading on Friday, reaching $564.78. 938,635 shares of the company's stock were exchanged, compared to its average volume of 710,689. The firm has a market capitalization of $72.70 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. The firm has a 50-day moving average price of $631.27 and a two-hundred day moving average price of $650.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping 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%. Analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's dividend payout ratio (DPR) is 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.