Washington Trust Bank lifted its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 3,019.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,535 shares of the industrial products company's stock after purchasing an additional 15,037 shares during the quarter. Washington Trust Bank's holdings in Parker-Hannifin were worth $9,881,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $25,000. Prestige Wealth Management Group LLC lifted its stake 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 acquiring an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new position in Parker-Hannifin during the 4th quarter valued at $35,000. Kestra Investment Management LLC bought a new position in Parker-Hannifin in the 4th quarter valued at $40,000. Finally, Hager Investment Management Services LLC purchased a new stake in Parker-Hannifin in the fourth quarter worth $44,000. Institutional investors own 82.44% of the company's stock.
Parker-Hannifin Stock Down 2.2 %
NYSE PH traded down $14.54 on Wednesday, hitting $636.82. The stock had a trading volume of 953,384 shares, compared to its average volume of 645,771. The business's fifty day moving average price is $660.80 and its 200 day moving average price is $654.24. The stock has a market cap of $81.97 billion, a price-to-earnings ratio of 26.36, 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 current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced 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%. Equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current 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 $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.99%.
Analyst Ratings Changes
A number of research analysts have recently commented on PH shares. Citigroup began coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a "buy" rating and a $795.00 price target on the stock. Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a "hold" rating in a research note on Friday, January 31st. Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Barclays lowered their price target on Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Finally, UBS Group reduced their price objective on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and a consensus target price of $736.65.
Check Out Our Latest 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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