MML Investors Services LLC Has $16.02 Million Stake in Parker-Hannifin Co. (NYSE:PH)

MML Investors Services LLC boosted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,189 shares of the industrial products company’s stock after buying an additional 759 shares during the period. MML Investors Services LLC’s holdings in Parker-Hannifin were worth $16,021,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Franklin Resources Inc. raised its stake in Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after acquiring an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth about $23,390,000. SG Americas Securities LLC lifted its holdings in Parker-Hannifin by 752.5% during the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock valued at $15,507,000 after purchasing an additional 21,521 shares during the last quarter. Columbus Macro LLC boosted its position in Parker-Hannifin by 485.2% in the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock valued at $6,838,000 after buying an additional 8,914 shares in the last quarter. Finally, Congress Asset Management Co. grew its stake in Parker-Hannifin by 15.5% during the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock worth $121,292,000 after buying an additional 25,605 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 3.5 %

NYSE:PH opened at $566.66 on Wednesday. The stock’s fifty day simple moving average is $613.99 and its 200-day simple moving average is $647.57. The firm has a market capitalization of $72.94 billion, a P/E ratio of 23.45, a P/E/G ratio of 2.85 and a beta of 1.39. 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 Co. has a 12-month low of $488.45 and a 12-month high of $718.44.

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

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Stifel Nicolaus reduced their target price on Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating on the stock in a report on Monday, April 14th. StockNews.com lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Truist Financial lowered their target price on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Wolfe Research downgraded shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Finally, Barclays lowered their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.