Parker-Hannifin Co. (NYSE:PH) Holdings Boosted by HUB Investment Partners LLC

HUB Investment Partners LLC grew its holdings in Parker-Hannifin Co. (NYSE:PH) by 15.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,798 shares of the industrial products company’s stock after purchasing an additional 1,057 shares during the period. HUB Investment Partners LLC’s holdings in Parker-Hannifin were worth $4,960,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PH. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter worth $25,000. Prestige Wealth Management Group LLC boosted 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 buying an additional 25 shares during the period. Bank of New Hampshire acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $35,000. Kestra Investment Management LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $40,000. Finally, Hager Investment Management Services LLC bought a new position in shares of Parker-Hannifin during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $629.93 on Thursday. The business’s 50-day simple moving average is $661.07 and its 200 day simple moving average is $652.16. 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 Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The stock has a market cap of $81.08 billion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 2.85 and a beta of 1.50.

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

Parker-Hannifin Dividend Announcement

The business 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. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PH. UBS Group cut their target price 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. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Truist Financial raised 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. Evercore ISI raised their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group boosted their target price on shares of 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 issued a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target 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.