Kingsview Wealth Management LLC Purchases 97 Shares of Parker-Hannifin Co. (NYSE:PH)

Kingsview Wealth Management LLC raised its position in Parker-Hannifin Co. (NYSE:PH) by 5.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,896 shares of the industrial products company’s stock after acquiring an additional 97 shares during the period. Kingsview Wealth Management LLC’s holdings in Parker-Hannifin were worth $1,206,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. West Branch Capital LLC bought a new stake in Parker-Hannifin in the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC raised its stake in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire bought a new stake in Parker-Hannifin in the 4th quarter valued at $35,000. Northwest Investment Counselors LLC bought a new stake in Parker-Hannifin in the 3rd quarter valued at $39,000. Finally, Hager Investment Management Services LLC bought a new stake in Parker-Hannifin in the 4th quarter valued at $44,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $680.72 on Wednesday. The stock’s 50-day simple moving average is $665.16 and its 200 day simple moving average is $636.60. The firm has a market capitalization of $87.62 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45. 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 twelve month low of $492.71 and a twelve month high of $718.44.

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, beating 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%. On average, analysts anticipate that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.96%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Mizuho increased their price target on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Barclays dropped their price target on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Truist Financial upped their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a report on Thursday, December 12th. Finally, Citigroup started coverage on Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective on the stock. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $729.18.

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.