Parker-Hannifin Co. (NYSE:PH) Holdings Boosted by Aviva PLC

Aviva PLC grew its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 38.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,724 shares of the industrial products company’s stock after purchasing an additional 16,268 shares during the quarter. Aviva PLC’s holdings in Parker-Hannifin were worth $37,350,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in Parker-Hannifin by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company’s stock worth $6,903,962,000 after buying an additional 111,406 shares during the period. Geode Capital Management LLC grew its position in shares of Parker-Hannifin by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company’s stock worth $1,699,580,000 after acquiring an additional 99,261 shares during the last quarter. Norges Bank bought a new stake in Parker-Hannifin in the 4th quarter valued at about $1,106,132,000. Proficio Capital Partners LLC boosted its stake in Parker-Hannifin by 116,370.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after purchasing an additional 1,139,265 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Parker-Hannifin by 41.1% during the 4th quarter. Franklin Resources Inc. now owns 911,075 shares of the industrial products company’s stock valued at $579,471,000 after purchasing an additional 265,559 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PH. Barclays cut their price target on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Truist Financial lifted their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company increased their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Finally, Citigroup began coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They issued a “buy” rating and a $795.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Down 7.1 %

Shares of Parker-Hannifin stock opened at $517.00 on Monday. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The firm has a market capitalization of $66.55 billion, a PE ratio of 21.40, 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. The stock’s fifty day moving average is $649.18 and its 200-day moving average is $654.59.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data 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%. Equities analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced 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. This represents a $6.52 annualized dividend and a yield of 1.26%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 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.