Aviso Financial Inc. Invests $932,000 in Parker-Hannifin Co. (NYSE:PH)

Aviso Financial Inc. acquired a new position in Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,465 shares of the industrial products company’s stock, valued at approximately $932,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Atala Financial Inc acquired a new position in shares of Parker-Hannifin in the 4th quarter worth $267,000. Madison Investment Advisors LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth $79,547,000. Impact Capital Partners LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth $228,000. Commonwealth Equity Services LLC grew its holdings in shares of Parker-Hannifin by 9.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 44,038 shares of the industrial products company’s stock worth $28,009,000 after acquiring an additional 3,913 shares during the last quarter. Finally, Balboa Wealth Partners grew its holdings in shares of Parker-Hannifin by 3.1% in the 4th quarter. Balboa Wealth Partners now owns 1,472 shares of the industrial products company’s stock worth $936,000 after acquiring an additional 44 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Evercore ISI lifted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Truist Financial lifted their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Stifel Nicolaus lifted their price target on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Finally, Jefferies Financial Group lifted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $608.17 on Friday. The business’s 50-day moving average price is $662.02 and its two-hundred day moving average price is $651.12. 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 one year low of $492.71 and a one year high of $718.44. The company has a market capitalization of $78.28 billion, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results 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%. Analysts anticipate 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 given a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.07%. 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.