SVB Wealth LLC Acquires New Position in Parker-Hannifin Co. (NYSE:PH)

SVB Wealth LLC bought a new position in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 779 shares of the industrial products company’s stock, valued at approximately $496,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Proficio Capital Partners LLC lifted its stake in shares of Parker-Hannifin by 116,370.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after acquiring an additional 1,139,265 shares during the last quarter. State Street Corp increased its stake in Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after purchasing an additional 753,143 shares during the period. Wellington Management Group LLP lifted its position in Parker-Hannifin by 39.9% in the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after purchasing an additional 564,365 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Parker-Hannifin during the third quarter valued at approximately $226,570,000. Finally, Mizuho Securities USA LLC grew its holdings in shares of Parker-Hannifin by 3,566.4% in the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock worth $229,541,000 after purchasing an additional 353,393 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Down 4.1 %

NYSE:PH opened at $623.93 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The firm’s 50-day moving average price is $665.68 and its 200-day moving average price is $650.33. The company has a market capitalization of $80.31 billion, a PE ratio of 25.82, a P/E/G ratio of 2.85 and a beta of 1.45. 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 quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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%. On average, equities analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Wall Street Analyst Weigh In

PH has been the subject of a number of recent analyst reports. Barclays lowered their price target on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Truist Financial upped their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. Citigroup started coverage on Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 price target for the company. Finally, KeyCorp lifted their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $739.06.

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.