Advisors Asset Management Inc. lifted its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 45.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,232 shares of the industrial products company's stock after buying an additional 3,499 shares during the period. Advisors Asset Management Inc.'s holdings in Parker-Hannifin were worth $7,144,000 at the end of the most recent quarter.
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Several other institutional investors and hedge funds also recently modified their holdings of PH. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin during the fourth quarter worth about $25,000. Prestige Wealth Management Group LLC grew its position in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at $35,000. Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at $40,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at $44,000. 82.44% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on PH. Citigroup began coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a "buy" rating and a $795.00 price target for the company. Evercore ISI increased their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. 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. Truist Financial raised their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Finally, Barclays lowered their target price on Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating for the company in a research report 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $736.65.
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Parker-Hannifin Stock Performance
PH stock traded down $3.54 during midday trading on Friday, reaching $621.18. 392,172 shares of the company's stock traded hands, compared to its average volume of 639,291. The company has a 50-day moving average price of $660.75 and a two-hundred day moving average price of $651.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The firm has a market capitalization of $79.96 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.
Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS 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, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.
Parker-Hannifin Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders 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 1.05%. Parker-Hannifin's dividend payout ratio (DPR) is currently 26.99%.
Parker-Hannifin Company 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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