UniSuper Management Pty Ltd Boosts Stake in Parker-Hannifin Co. (NYSE:PH)

UniSuper Management Pty Ltd increased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 23.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,732 shares of the industrial products company’s stock after buying an additional 1,681 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Parker-Hannifin were worth $5,554,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth $25,000. Millstone Evans Group LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $30,000. Prestige Wealth Management Group LLC boosted its stake in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares during the period. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin during the fourth quarter worth about $35,000. Finally, Kestra Investment Management LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PH. Evercore ISI lifted their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. StockNews.com lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research report on Thursday, December 12th. Stifel Nicolaus raised 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, 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. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Stock Performance

NYSE:PH opened at $626.76 on Friday. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The company has a market capitalization of $80.68 billion, a P/E ratio of 25.94, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $659.79 and a two-hundred day moving average price of $653.92.

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

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s 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.