FIL Ltd Raises Stake in Parker-Hannifin Co. (NYSE:PH)

FIL Ltd raised its position in shares of Parker-Hannifin Co. (NYSE:PH) by 36.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 132,781 shares of the industrial products company’s stock after purchasing an additional 35,344 shares during the quarter. FIL Ltd owned 0.10% of Parker-Hannifin worth $84,453,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin in the fourth quarter worth $25,000. Millstone Evans Group LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth $30,000. Prestige Wealth Management Group LLC lifted its holdings in shares of 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 buying an additional 25 shares in the last quarter. Finally, Bank of New Hampshire purchased a new stake in Parker-Hannifin during the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 price target on the stock. Truist Financial decreased their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a research note on Tuesday. Barclays decreased their price target on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Stifel Nicolaus upped their price target 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, Wolfe Research downgraded shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $723.41.

Parker-Hannifin Stock Up 13.6 %

NYSE:PH opened at $596.76 on Thursday. Parker-Hannifin Co. has a 1-year low of $488.45 and a 1-year high of $718.44. The company has a 50-day moving average of $636.52 and a 200 day moving average of $651.76. The firm has a market cap of $76.81 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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, research analysts anticipate 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 was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Parker-Hannifin 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.