Tower View Wealth Management LLC Buys Shares of 5,440 Parker-Hannifin Co. (NYSE:PH)

Tower View Wealth Management LLC bought a new stake in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,440 shares of the industrial products company’s stock, valued at approximately $3,460,000. Parker-Hannifin makes up 1.8% of Tower View Wealth Management LLC’s holdings, making the stock its 24th biggest position.

Other large investors also recently added to or reduced their stakes in the company. Stephens Inc. AR grew its holdings in shares of Parker-Hannifin by 7.1% during the 3rd quarter. Stephens Inc. AR now owns 3,472 shares of the industrial products company’s stock worth $2,194,000 after purchasing an additional 230 shares during the period. Principal Securities Inc. grew its holdings in shares of Parker-Hannifin by 27.6% during the 3rd quarter. Principal Securities Inc. now owns 4,956 shares of the industrial products company’s stock worth $3,132,000 after purchasing an additional 1,073 shares during the period. Focus Financial Network Inc. grew its holdings in shares of Parker-Hannifin by 8.9% during the 3rd quarter. Focus Financial Network Inc. now owns 651 shares of the industrial products company’s stock worth $411,000 after purchasing an additional 53 shares during the period. Creative Financial Designs Inc. ADV grew its holdings in shares of Parker-Hannifin by 1.5% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,873 shares of the industrial products company’s stock worth $1,183,000 after purchasing an additional 28 shares during the period. Finally, Gladstone Institutional Advisory LLC grew its holdings in shares of Parker-Hannifin by 1.2% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 2,973 shares of the industrial products company’s stock worth $1,878,000 after purchasing an additional 35 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PH. Truist Financial increased their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. KeyCorp increased their target price on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. UBS Group decreased their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Jefferies Financial Group increased their target price on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Two equities 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, the company has an average rating of “Moderate Buy” and a consensus target price of $739.06.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $670.07 on Friday. 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 fifty-two week low of $492.71 and a fifty-two week high of $718.44. The firm has a market capitalization of $86.25 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The stock’s 50-day simple moving average is $666.19 and its 200-day simple moving average is $649.15.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.97%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Parker-Hannifin Company Profile

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.