HUB Investment Partners LLC raised its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 15.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,798 shares of the industrial products company's stock after purchasing an additional 1,057 shares during the period. HUB Investment Partners LLC's holdings in Parker-Hannifin were worth $4,960,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Whipplewood Advisors LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at $25,000. Prestige Wealth Management Group LLC boosted its stake in shares of Parker-Hannifin by 83.3% in the third 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 period. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $35,000. Kestra Investment Management LLC bought a new stake in Parker-Hannifin during the 4th quarter valued at approximately $40,000. Finally, Hager Investment Management Services LLC bought a new position in Parker-Hannifin in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 82.44% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the stock. Wolfe Research raised shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 target price on the stock in a report on Thursday, December 12th. Truist Financial increased their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Jefferies Financial Group lifted their target price on Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a report on Friday, December 6th. StockNews.com lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Finally, Citigroup started coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a "buy" rating and a $795.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus target price of $736.65.
Get Our Latest Stock Analysis on PH
Parker-Hannifin Trading Up 3.4 %
Shares of PH traded up $21.11 during mid-day trading on Monday, reaching $643.21. 893,752 shares of the company's stock traded hands, compared to its average volume of 642,896. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The stock has a market cap of $82.79 billion, a P/E ratio of 26.62, a P/E/G ratio of 2.85 and a beta of 1.50. The stock's 50-day moving average is $660.71 and its two-hundred day moving average is $653.67.
Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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 forecast 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 of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.01%. Parker-Hannifin's payout ratio is 26.99%.
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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