Diametric Capital LP Acquires 222 Shares of Parker-Hannifin Co. (NYSE:PH)

Diametric Capital LP grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 44.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 727 shares of the industrial products company’s stock after purchasing an additional 222 shares during the period. Diametric Capital LP’s holdings in Parker-Hannifin were worth $462,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new position in Parker-Hannifin during the 4th quarter worth $25,000. Millstone Evans Group LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $30,000. Prestige Wealth Management Group LLC raised its position 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 acquiring an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $35,000. Finally, Kestra Investment Management LLC bought a new stake in Parker-Hannifin in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 1.1 %

Shares of NYSE PH opened at $608.33 on Tuesday. 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 50-day moving average price of $657.14 and a 200-day moving average price of $655.22. The stock has a market capitalization of $78.30 billion, a P/E ratio of 25.18, 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 released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s payout ratio is currently 26.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PH shares. Evercore ISI boosted their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Barclays cut their price target on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Jefferies Financial Group lifted their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. UBS Group cut their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Truist Financial lifted their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average 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.