Van Lanschot Kempen Investment Management N.V. Makes New $20.21 Million Investment in Parker-Hannifin Co. (NYSE:PH)

Van Lanschot Kempen Investment Management N.V. bought a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 31,782 shares of the industrial products company's stock, valued at approximately $20,214,000.

A number of other hedge funds also recently bought and sold shares of the company. Whipplewood Advisors LLC bought a new position in Parker-Hannifin during the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $25,000. Millstone Evans Group LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth $30,000. Bank of New Hampshire bought a new stake in Parker-Hannifin during the 4th quarter valued at $35,000. Finally, Kestra Investment Management LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at $40,000. Institutional investors own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PH shares. Truist Financial lowered 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 note on Tuesday, April 8th. Citigroup dropped their price objective on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. Stifel Nicolaus cut their price objective on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Wolfe Research downgraded Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Finally, Barclays cut their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $705.35.

Parker-Hannifin Stock Up 0.1 %

Shares of PH stock traded up $0.87 during trading hours on Friday, hitting $597.68. 530,407 shares of the company's stock traded hands, compared to its average volume of 844,608. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock's fifty day simple moving average is $609.54 and its two-hundred day simple moving average is $646.88. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month high of $718.44. The stock has a market cap of $76.93 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 2.85 and a beta of 1.39.

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 (EPS) for the quarter, beating analysts' consensus estimates 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, analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 1.20%. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. Parker-Hannifin's dividend payout ratio is 26.99%.

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.