Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. grew its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 232,399 shares of the industrial products company's stock after buying an additional 2,782 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.18% of Parker-Hannifin worth $147,813,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PH. Anchor Investment Management LLC increased its position in Parker-Hannifin by 10.5% during the 3rd quarter. Anchor Investment Management LLC now owns 317 shares of the industrial products company's stock worth $200,000 after purchasing an additional 30 shares during the period. Stock Yards Bank & Trust Co. acquired a new position in Parker-Hannifin during the third quarter worth $217,000. World Investment Advisors LLC purchased a new position in Parker-Hannifin in the third quarter worth $584,000. Wilmington Savings Fund Society FSB lifted its holdings in Parker-Hannifin by 176.8% in the third 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 boosted its position in shares of 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 purchasing an additional 946 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Analyst Ratings Changes

PH has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Barclays reduced their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Truist Financial lowered 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, April 8th. UBS Group reduced their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Finally, StockNews.com lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $705.35.

Parker-Hannifin Price Performance

NYSE PH opened at $566.66 on Wednesday. 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 Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The stock has a 50-day simple moving average of $613.99 and a 200 day simple moving average of $647.57. The stock has a market capitalization of $72.94 billion, a PE ratio of 23.45, a P/E/G ratio of 2.85 and a beta of 1.39.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

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 is 26.99%.

Parker-Hannifin Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.