Bowen Hanes & Co. Inc. Has $51.45 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

Bowen Hanes & Co. Inc. boosted its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 52.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 80,885 shares of the industrial products company's stock after purchasing an additional 27,795 shares during the period. Bowen Hanes & Co. Inc. owned about 0.06% of Parker-Hannifin worth $51,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PH. Global Retirement Partners LLC increased its stake in shares of Parker-Hannifin by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock valued at $886,000 after buying an additional 15 shares in the last quarter. FFT Wealth Management LLC increased its position in Parker-Hannifin by 1.3% in the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock valued at $732,000 after acquiring an additional 15 shares in the last quarter. GenTrust LLC raised its stake in shares of Parker-Hannifin by 2.9% in the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock worth $333,000 after acquiring an additional 15 shares during the last quarter. Grove Bank & Trust lifted its position in shares of Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company's stock worth $95,000 after purchasing an additional 16 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC grew its stake in shares of Parker-Hannifin by 0.6% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company's stock valued at $1,723,000 after purchasing an additional 16 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

PH has been the subject of several research analyst reports. StockNews.com upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, February 8th. Barclays cut their price target on Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Truist Financial lifted their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Jefferies Financial Group upped their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Finally, KeyCorp raised their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $736.65.

Parker-Hannifin Trading Up 2.3 %

Shares of PH traded up $14.21 during trading hours on Monday, reaching $622.09. The stock had a trading volume of 824,231 shares, compared to its average volume of 637,420. The firm has a 50-day moving average of $662.02 and a 200 day moving average of $651.99. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market cap of $80.08 billion, a P/E ratio of 25.75, a P/E/G ratio of 2.85 and a beta of 1.50. 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 released its quarterly earnings data 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 return on equity of 27.34% and a net margin of 15.87%. On average, sell-side analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.05%. Parker-Hannifin's payout ratio 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.