Vinva Investment Management Ltd lifted its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,407 shares of the industrial products company's stock after purchasing an additional 410 shares during the period. Vinva Investment Management Ltd's holdings in Parker-Hannifin were worth $4,080,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC acquired a new stake in Parker-Hannifin during the 4th quarter valued at approximately $25,000. Prestige Wealth Management Group LLC boosted its stake 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 valued at $35,000 after buying an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $35,000. Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin in the fourth quarter worth $40,000. Finally, Hager Investment Management Services LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at $44,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.
Parker-Hannifin Stock Performance
Shares of NYSE PH traded up $21.11 during midday trading on Monday, hitting $643.21. 893,752 shares of the company's stock were exchanged, compared to its average volume of 642,896. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve 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 firm has a market cap of $82.79 billion, a P/E ratio of 26.62, a PEG ratio of 2.85 and a beta of 1.50. The stock's 50 day moving average price is $660.60 and its 200-day moving average price is $653.19.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.
Parker-Hannifin Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.01%. Parker-Hannifin's dividend payout ratio (DPR) is 26.99%.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. Truist Financial raised their price objective 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. Citigroup assumed coverage on Parker-Hannifin in a report on Friday, February 7th. They issued a "buy" rating and a $795.00 price objective for the company. StockNews.com downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Stifel Nicolaus boosted their price target on Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a report on Friday, January 31st. Finally, Barclays reduced their price objective on Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $736.65.
Check Out Our Latest Research 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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