Berkshire Asset Management LLC PA Raises Position in Parker-Hannifin Co. (NYSE:PH)

Berkshire Asset Management LLC PA raised its position in Parker-Hannifin Co. (NYSE:PH) by 3.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,134 shares of the industrial products company’s stock after buying an additional 42 shares during the period. Berkshire Asset Management LLC PA’s holdings in Parker-Hannifin were worth $770,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter worth approximately $25,000. Prestige Wealth Management Group LLC lifted its holdings in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new stake in Parker-Hannifin during the 4th quarter worth $35,000. Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth $40,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $44,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

NYSE:PH opened at $635.57 on Friday. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The company has a 50 day moving average price of $664.88 and a 200 day moving average price of $650.47. The stock has a market capitalization of $81.81 billion, a P/E ratio of 26.31, a PEG ratio of 2.85 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 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 forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid 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 yield of 1.03%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PH. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research 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 research report on Thursday, December 19th. Jefferies Financial Group lifted their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Stifel Nicolaus upped their target price on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Finally, Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target 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.