CreativeOne Wealth LLC Grows Holdings in Parker-Hannifin Co. (NYSE:PH)

CreativeOne Wealth LLC increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 15.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,117 shares of the industrial products company’s stock after acquiring an additional 152 shares during the period. CreativeOne Wealth LLC’s holdings in Parker-Hannifin were worth $711,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PH. Norges Bank acquired a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $1,106,132,000. Proficio Capital Partners LLC raised its position in Parker-Hannifin by 116,370.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock worth $725,229,000 after acquiring an additional 1,139,265 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Parker-Hannifin by 176.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company’s stock valued at $278,661,000 after purchasing an additional 279,480 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $175,739,000. Finally, Franklin Resources Inc. increased its stake in shares of Parker-Hannifin by 41.1% during the fourth quarter. Franklin Resources Inc. now owns 911,075 shares of the industrial products company’s stock worth $579,471,000 after purchasing an additional 265,559 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. KeyCorp decreased their price target on shares of Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Evercore ISI raised their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Stifel Nicolaus reduced their price objective on Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Wells Fargo & Company lifted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Citigroup reduced their target price on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $705.35.

Parker-Hannifin Trading Up 0.3 %

PH opened at $561.21 on Friday. The business’s 50 day moving average price is $619.17 and its 200 day moving average price is $648.41. 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 stock has a market capitalization of $72.24 billion, a PE ratio of 23.23, a P/E/G ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44.

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 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, equities research analysts expect 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. Stockholders of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.16%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

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.