Truist Financial Corp grew its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 153,998 shares of the industrial products company's stock after purchasing an additional 5,931 shares during the quarter. Truist Financial Corp owned about 0.12% of Parker-Hannifin worth $97,947,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. West Branch Capital LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC increased its holdings in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth approximately $39,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 82.44% of the company's stock.
Parker-Hannifin Price Performance
Shares of PH stock traded down $5.73 on Thursday, hitting $695.82. 576,110 shares of the company's stock were exchanged, compared to its average volume of 653,540. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The stock has a market cap of $89.57 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The company has a 50 day moving average of $665.39 and a 200 day moving average of $643.20.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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 research analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.
Parker-Hannifin Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. Parker-Hannifin's dividend payout ratio is currently 26.99%.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on PH. Barclays decreased their target price on Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Wolfe Research upgraded Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price target for the company in a research note on Thursday, December 12th. Robert W. Baird boosted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. KeyCorp boosted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group boosted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $739.06.
Read 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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