Corebridge Financial Inc. Purchases 119 Shares of Parker-Hannifin Co. (NYSE:PH)

Corebridge Financial Inc. increased its holdings in Parker-Hannifin Co. (NYSE:PH) by 0.4% during the 4th quarter, Holdings Channel reports. The firm owned 31,727 shares of the industrial products company’s stock after buying an additional 119 shares during the period. Corebridge Financial Inc.’s holdings in Parker-Hannifin were worth $20,179,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Global Retirement Partners LLC raised its holdings in Parker-Hannifin by 1.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after purchasing an additional 15 shares in the last quarter. FFT Wealth Management LLC lifted its holdings in Parker-Hannifin by 1.3% in the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock worth $732,000 after buying an additional 15 shares during the period. GenTrust LLC lifted its holdings in Parker-Hannifin by 2.9% in the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after buying an additional 15 shares during the period. Grove Bank & Trust boosted its position in Parker-Hannifin by 11.9% during the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock valued at $95,000 after acquiring an additional 16 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC grew its holdings in shares of Parker-Hannifin by 0.6% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock worth $1,723,000 after acquiring an additional 16 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

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

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) 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%. Research analysts expect 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 was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s payout ratio is currently 26.99%.

Analysts Set New Price Targets

Several research firms recently weighed in on PH. Evercore ISI lifted their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Truist Financial increased their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. KeyCorp raised their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Barclays decreased their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, Jefferies Financial Group increased their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $736.65.

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.