Pictet Asset Management Holding SA boosted its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 557,160 shares of the industrial products company's stock after purchasing an additional 34,821 shares during the quarter. Pictet Asset Management Holding SA owned about 0.43% of Parker-Hannifin worth $354,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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Other hedge funds and other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. raised its position in Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock valued at $415,409,000 after purchasing an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at about $23,390,000. SG Americas Securities LLC lifted its position in Parker-Hannifin by 752.5% in the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock worth $15,507,000 after buying an additional 21,521 shares during the last quarter. Columbus Macro LLC boosted its stake in Parker-Hannifin by 485.2% in the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock worth $6,838,000 after buying an additional 8,914 shares in the last quarter. Finally, Congress Asset Management Co. grew its position in Parker-Hannifin by 15.5% during the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock valued at $121,292,000 after acquiring an additional 25,605 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.
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Analysts Set New Price Targets
A number of brokerages have recently issued reports on PH. Evercore ISI upped their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Truist Financial raised their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Citigroup began coverage on Parker-Hannifin in a research report on Friday, February 7th. They issued a "buy" rating and a $795.00 price objective for the company. UBS Group cut their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Finally, Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $736.65.
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Parker-Hannifin Stock Down 4.1 %
Parker-Hannifin stock traded down $25.49 on Friday, hitting $600.78. 812,633 shares of the stock traded hands, compared to its average volume of 675,986. The business's fifty day simple moving average is $658.39 and its 200 day simple moving average is $654.58. The firm has a market cap of $77.33 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. 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 Co. has a 1 year low of $492.71 and a 1 year high of $718.44.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.
Parker-Hannifin Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's dividend payout ratio (DPR) is 26.99%.
Parker-Hannifin Profile
(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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