Corebridge Financial Inc. Has $20.18 Million Stake in Parker-Hannifin Co. (NYSE:PH)

Corebridge Financial Inc. raised its stake in Parker-Hannifin Co. (NYSE:PH) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,727 shares of the industrial products company’s stock after purchasing an additional 119 shares during the quarter. Corebridge Financial Inc.’s holdings in Parker-Hannifin were worth $20,179,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of PH. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin in the 4th quarter valued at $25,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth $30,000. Prestige Wealth Management Group LLC grew its stake in shares of 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 worth $35,000 after acquiring an additional 25 shares in the last quarter. Bank of New Hampshire bought a new position in shares of Parker-Hannifin during the fourth quarter valued at about $35,000. Finally, Kestra Investment Management LLC purchased a new position in Parker-Hannifin during the fourth quarter worth about $40,000. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Jefferies Financial Group lifted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. UBS Group cut their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Stifel Nicolaus lifted their target price on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research report on Thursday, December 12th. Finally, Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Performance

NYSE PH opened at $643.21 on Tuesday. The company’s 50 day simple moving average is $660.71 and its two-hundred day simple moving average is $653.67. The stock has a market capitalization of $82.79 billion, a PE ratio of 26.62, a P/E/G ratio of 2.85 and a beta of 1.50. 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 Co. has a 1 year low of $492.71 and a 1 year high of $718.44.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. Analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.01%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 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.