World Equity Group Inc. Invests $953,000 in Parker-Hannifin Co. (NYSE:PH)

World Equity Group Inc. purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,500 shares of the industrial products company's stock, valued at approximately $953,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC grew its position in shares of Parker-Hannifin by 1.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock worth $886,000 after buying an additional 15 shares in the last quarter. Grove Bank & Trust grew its position in shares of Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company's stock worth $95,000 after buying an additional 16 shares in the last quarter. Moody Lynn & Lieberson LLC grew its position in shares of Parker-Hannifin by 0.6% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company's stock worth $1,723,000 after buying an additional 16 shares in the last quarter. Everpar Advisors LLC grew its position in shares of Parker-Hannifin by 1.3% during the fourth quarter. Everpar Advisors LLC now owns 1,339 shares of the industrial products company's stock worth $852,000 after buying an additional 17 shares in the last quarter. Finally, LVW Advisors LLC grew its position in shares of Parker-Hannifin by 0.9% during the fourth quarter. LVW Advisors LLC now owns 1,969 shares of the industrial products company's stock worth $1,252,000 after buying an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded down $2.32 on Monday, hitting $664.65. The company's stock had a trading volume of 351,486 shares, compared to its average volume of 650,179. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. 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 firm has a fifty day moving average price of $665.56 and a 200-day moving average price of $646.50. The company has a market capitalization of $85.55 billion, a P/E ratio of 27.51, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45.

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, 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, equities research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin's payout ratio is 26.99%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. TD Cowen boosted their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the stock a "hold" rating in a research report on Tuesday, November 12th. Wells Fargo & Company upped their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Truist Financial upped their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Evercore ISI upped their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, UBS Group lowered their price target on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus target price 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.