UniSuper Management Pty Ltd Raises Stake in Parker-Hannifin Co. (NYSE:PH)

UniSuper Management Pty Ltd increased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 23.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,732 shares of the industrial products company’s stock after acquiring an additional 1,681 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Parker-Hannifin were worth $5,554,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PH. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at about $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at approximately $30,000. Prestige Wealth Management Group LLC grew its position in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire acquired a new stake in Parker-Hannifin during the fourth quarter worth $35,000. Finally, Kestra Investment Management LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 1.7 %

NYSE PH opened at $626.76 on Friday. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The firm has a 50 day moving average of $659.79 and a two-hundred day moving average of $653.92. The stock has a market capitalization of $80.68 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating 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, research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PH. Evercore ISI increased their price target on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Truist Financial boosted their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Finally, KeyCorp boosted their target price on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

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.