SlateStone Wealth LLC Acquires 255 Shares of Parker-Hannifin Co. (NYSE:PH)

SlateStone Wealth LLC boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 17.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,758 shares of the industrial products company’s stock after buying an additional 255 shares during the period. SlateStone Wealth LLC’s holdings in Parker-Hannifin were worth $1,118,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $25,000. Prestige Wealth Management Group LLC grew its holdings in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Citigroup started coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 price target on the stock. Truist Financial boosted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. Finally, KeyCorp boosted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Trading Up 2.8 %

PH stock opened at $608.17 on Monday. The company has a market cap of $78.28 billion, a P/E ratio of 25.17, a PEG ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month 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. The business has a fifty day moving average of $662.02 and a 200-day moving average of $651.99.

Parker-Hannifin (NYSE:PH) last released its 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%. As a group, equities research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced 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. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.07%. Parker-Hannifin’s payout ratio is currently 26.99%.

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.