NEOS Investment Management LLC Acquires 2,846 Shares of Parker-Hannifin Co. (NYSE:PH)

NEOS Investment Management LLC boosted its stake in Parker-Hannifin Co. (NYSE:PH) by 24.6% during the fourth quarter, HoldingsChannel reports. The firm owned 14,403 shares of the industrial products company’s stock after buying an additional 2,846 shares during the period. NEOS Investment Management LLC’s holdings in Parker-Hannifin were worth $9,161,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PH. Kingsview Wealth Management LLC lifted its stake in Parker-Hannifin by 5.1% during the third quarter. Kingsview Wealth Management LLC now owns 1,799 shares of the industrial products company’s stock worth $1,136,000 after purchasing an additional 87 shares during the last quarter. Centaurus Financial Inc. boosted its stake in shares of Parker-Hannifin by 126.2% in the 3rd quarter. Centaurus Financial Inc. now owns 683 shares of the industrial products company’s stock valued at $432,000 after purchasing an additional 381 shares in the last quarter. Avestar Capital LLC grew its holdings in shares of Parker-Hannifin by 11.4% during the 3rd quarter. Avestar Capital LLC now owns 645 shares of the industrial products company’s stock valued at $408,000 after purchasing an additional 66 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Parker-Hannifin by 58.1% in the third quarter. BNP Paribas Financial Markets now owns 134,612 shares of the industrial products company’s stock worth $85,051,000 after purchasing an additional 49,483 shares during the last quarter. Finally, Townsquare Capital LLC increased its holdings in shares of Parker-Hannifin by 14.9% in the third quarter. Townsquare Capital LLC now owns 5,275 shares of the industrial products company’s stock worth $3,333,000 after buying an additional 685 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH opened at $636.82 on Thursday. The business’s 50 day moving average price is $660.41 and its 200-day moving average price is $654.11. The stock has a market cap of $81.97 billion, a P/E ratio of 26.36, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Truist Financial boosted their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Evercore ISI raised their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Citigroup assumed coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. UBS Group dropped their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Jefferies Financial Group raised 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. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

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.