Capital International Inc. CA acquired a new stake in Parker-Hannifin Co. (NYSE:PH – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,250 shares of the industrial products company’s stock, valued at approximately $5,247,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC grew its position in Parker-Hannifin by 1.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock valued at $886,000 after acquiring an additional 15 shares in the last quarter. FFT Wealth Management LLC grew its holdings in shares of Parker-Hannifin by 1.3% in the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock valued at $732,000 after purchasing an additional 15 shares in the last quarter. GenTrust LLC lifted its holdings in Parker-Hannifin by 2.9% during the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after buying an additional 15 shares in the last quarter. Grove Bank & Trust boosted its position in Parker-Hannifin by 11.9% in the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock valued at $95,000 after buying an additional 16 shares during the period. Finally, Moody Lynn & Lieberson LLC grew its stake in shares of Parker-Hannifin by 0.6% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock worth $1,723,000 after acquiring an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.
Parker-Hannifin Stock Up 0.3 %
Parker-Hannifin stock opened at $561.21 on Friday. The company has a market capitalization of $72.24 billion, a P/E ratio of 23.23, a PEG ratio of 2.85 and a beta of 1.39. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The stock has a 50-day simple moving average of $619.17 and a 200-day simple moving average of $648.56.
Parker-Hannifin Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.16%. Parker-Hannifin’s payout ratio is 26.99%.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the company. Stifel Nicolaus reduced their price objective on Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. UBS Group decreased their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Evercore ISI upped their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. KeyCorp decreased their price target on shares of Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Barclays dropped their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $705.35.
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.
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