Parker-Hannifin Co. (NYSE:PH) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 6.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 557,160 shares of the industrial products company's stock after acquiring an additional 34,821 shares during the quarter. Pictet Asset Management Holding SA owned 0.43% of Parker-Hannifin worth $354,370,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PH. Franklin Resources Inc. increased its position in shares of Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock worth $415,409,000 after acquiring an additional 181,859 shares during the period. Howard Capital Management Group LLC purchased a new stake in Parker-Hannifin during the 4th quarter worth about $23,390,000. SG Americas Securities LLC raised its position in Parker-Hannifin by 752.5% in the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock valued at $15,507,000 after purchasing an additional 21,521 shares in the last quarter. Columbus Macro LLC boosted its stake in shares of Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock valued at $6,838,000 after buying an additional 8,914 shares during the period. Finally, Congress Asset Management Co. grew its position in shares of Parker-Hannifin by 15.5% during the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock worth $121,292,000 after buying an additional 25,605 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PH shares. Evercore ISI lifted their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Barclays decreased their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Truist Financial increased their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a report on Thursday, December 19th. KeyCorp upped their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company raised their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $736.65.

Parker-Hannifin Stock Performance

Shares of PH traded up $1.51 during mid-day trading on Tuesday, hitting $609.36. 206,712 shares of the company's stock were exchanged, compared to its average volume of 774,442. 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 Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The business's 50 day moving average is $657.14 and its two-hundred day moving average is $655.22. The firm has a market capitalization of $78.44 billion, a P/E ratio of 25.22, a P/E/G ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping 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, equities analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Friday, February 7th. Parker-Hannifin's dividend payout ratio is presently 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.