SRS Capital Advisors Inc. Acquires 743 Shares of Parker-Hannifin Co. (NYSE:PH)

SRS Capital Advisors Inc. raised its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 61.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,951 shares of the industrial products company's stock after acquiring an additional 743 shares during the quarter. SRS Capital Advisors Inc.'s holdings in Parker-Hannifin were worth $1,241,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PH. Stephens Inc. AR raised its position in shares of Parker-Hannifin by 7.1% during the 3rd quarter. Stephens Inc. AR now owns 3,472 shares of the industrial products company's stock valued at $2,194,000 after buying an additional 230 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of Parker-Hannifin by 27.6% during the third quarter. Principal Securities Inc. now owns 4,956 shares of the industrial products company's stock valued at $3,132,000 after purchasing an additional 1,073 shares during the last quarter. Focus Financial Network Inc. grew its position in Parker-Hannifin by 8.9% during the third quarter. Focus Financial Network Inc. now owns 651 shares of the industrial products company's stock valued at $411,000 after buying an additional 53 shares during the period. Capital Advisors Inc. OK bought a new position in shares of Parker-Hannifin in the third quarter worth approximately $200,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Parker-Hannifin by 13.5% in the third quarter. Farther Finance Advisors LLC now owns 1,212 shares of the industrial products company's stock worth $766,000 after purchasing an additional 144 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Price Performance

PH stock traded down $9.04 on Thursday, hitting $631.01. 477,422 shares of the company's stock traded hands, compared to its average volume of 623,946. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The stock has a market cap of $81.22 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 2.85 and a beta of 1.45. The stock has a fifty day moving average of $665.45 and a 200-day moving average of $650.27. 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 issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 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, analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.03%. Parker-Hannifin's dividend payout ratio is presently 26.99%.

Analyst Ratings Changes

PH has been the topic of several recent analyst reports. Barclays reduced their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a research note on Friday, January 31st. StockNews.com raised shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, February 8th. UBS Group reduced their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Finally, Truist Financial upped their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus price target of $739.06.

About Parker-Hannifin

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.