Sompo Asset Management Co. Ltd. purchased a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,110 shares of the industrial products company's stock, valued at approximately $706,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at $25,000. Millstone Evans Group LLC bought a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $30,000. Bank of New Hampshire acquired a new position in Parker-Hannifin during the 4th quarter valued at about $35,000. Finally, Kestra Investment Management LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at about $40,000. Institutional investors own 82.44% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on PH. KeyCorp dropped their target price on shares of Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Evercore ISI increased their price target on Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Barclays dropped their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Truist Financial decreased their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Stifel Nicolaus dropped their price target on shares of Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $705.35.
Check Out Our Latest Analysis on PH
Parker-Hannifin Stock Performance
Parker-Hannifin stock opened at $566.66 on Wednesday. The company has a market cap of $72.94 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a 12 month low of $488.45 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's 50-day moving average is $613.99 and its 200-day moving average is $647.57.
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, topping 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%. Equities analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.
Parker-Hannifin Announces Dividend
The business 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 dividend on an annualized basis and a dividend yield of 1.15%. Parker-Hannifin's dividend payout ratio (DPR) is presently 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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