Royal London Asset Management Ltd. increased its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 53,131 shares of the industrial products company's stock after acquiring an additional 476 shares during the period. Royal London Asset Management Ltd.'s holdings in Parker-Hannifin were worth $33,793,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $25,000. Prestige Wealth Management Group LLC lifted its stake in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new position in Parker-Hannifin during the fourth quarter worth $35,000. Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter worth $40,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 82.44% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on PH shares. Wolfe Research upgraded Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 target price for the company in a report on Thursday, December 12th. 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 objective for the company. StockNews.com cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. KeyCorp boosted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, Evercore ISI increased their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $736.65.
Read Our Latest Stock Report on PH
Parker-Hannifin Stock Up 1.4 %
Shares of NYSE:PH traded up $8.83 during trading on Tuesday, hitting $651.41. 903,371 shares of the company were exchanged, compared to its average volume of 642,722. The firm's 50 day moving average price is $660.71 and its 200-day moving average price is $653.67. 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 capitalization of $83.85 billion, a P/E ratio of 26.96, a PEG ratio of 2.85 and a beta of 1.50.
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 (EPS) for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. On average, research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.
Parker-Hannifin Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Friday, February 7th. Parker-Hannifin's payout ratio is currently 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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