National Bank of Canada FI decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 25.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 85,189 shares of the industrial products company's stock after selling 28,365 shares during the period. National Bank of Canada FI owned approximately 0.07% of Parker-Hannifin worth $54,183,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Parker-Hannifin by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock valued at $6,903,962,000 after purchasing an additional 111,406 shares during the last quarter. State Street Corp increased its stake in shares of Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock valued at $3,918,696,000 after acquiring an additional 753,143 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Parker-Hannifin by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company's stock valued at $1,623,689,000 after acquiring an additional 29,408 shares during the last quarter. Wellington Management Group LLP boosted its stake in Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock worth $1,249,645,000 after acquiring an additional 564,365 shares during the last quarter. Finally, Norges Bank acquired a new position in Parker-Hannifin during the fourth quarter valued at approximately $1,106,132,000. Institutional investors and hedge funds own 82.44% of the company's stock.
Parker-Hannifin Stock Performance
Shares of NYSE:PH traded down $72.70 on Thursday, hitting $556.28. The company had a trading volume of 1,788,796 shares, compared to its average volume of 683,360. The stock has a market cap of $71.60 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 2.85 and a beta of 1.50. The stock has a 50 day moving average price of $652.42 and a 200 day moving average price of $654.48. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.
Parker-Hannifin Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.17%. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.99%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on PH. Truist Financial lifted their price target on shares of 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 raised their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Evercore ISI lifted their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Wolfe Research downgraded shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday. Finally, Wells Fargo & Company upped their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average price target of $736.65.
Check Out Our Latest Report on PH
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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