Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 3.8% in the 4th quarter, HoldingsChannel reports. The firm owned 1,134 shares of the industrial products company’s stock after purchasing an additional 42 shares during the period. Berkshire Asset Management LLC PA’s holdings in Parker-Hannifin were worth $770,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PH. State Street Corp boosted its stake in shares of 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 valued at $3,918,696,000 after buying an additional 753,143 shares during the period. FMR LLC raised its holdings in Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after acquiring an additional 272,531 shares in the last quarter. Geode Capital Management LLC lifted its stake in Parker-Hannifin by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock worth $1,623,689,000 after acquiring an additional 29,408 shares during the last quarter. Wellington Management Group LLP grew its holdings in Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after acquiring an additional 564,365 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Parker-Hannifin by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock valued at $1,007,102,000 after purchasing an additional 59,432 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. UBS Group dropped their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Citigroup began coverage on Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. TD Cowen upped their price target on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 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. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $739.06.

Parker-Hannifin Price Performance

Shares of PH opened at $635.57 on Friday. 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 $492.71 and a fifty-two week high of $718.44. The firm has a 50-day simple moving average of $664.88 and a 200-day simple moving average of $650.47. The company has a market capitalization of $81.81 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted 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 return on equity of 27.34% and a net margin of 15.87%. On average, equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 1.03%. Parker-Hannifin’s dividend payout ratio 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.