Amalgamated Bank lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH – Free Report) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,258 shares of the industrial products company’s stock after buying an additional 48 shares during the period. Amalgamated Bank’s holdings in Parker-Hannifin were worth $16,065,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the business. State Street Corp grew its stake in Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after buying an additional 753,143 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after acquiring an additional 564,365 shares during the period. World Investment Advisors LLC bought a new position in shares of Parker-Hannifin during the third quarter worth about $226,570,000. Mizuho Securities USA LLC increased its holdings in shares of Parker-Hannifin by 3,566.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock worth $229,541,000 after acquiring an additional 353,393 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Parker-Hannifin by 176.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company’s stock valued at $278,661,000 after purchasing an additional 279,480 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.
Analyst Ratings Changes
PH has been the subject of several recent analyst reports. Barclays decreased their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. TD Cowen raised their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. 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 note on Friday, January 31st. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Finally, KeyCorp lifted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $739.06.
Parker-Hannifin Stock Performance
Shares of PH opened at $657.27 on Wednesday. The company has a 50-day moving average of $665.08 and a two-hundred day moving average of $647.76. The stock has a market cap of $84.60 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 2.85 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44.
Parker-Hannifin (NYSE:PH – Get Free Report) last posted its quarterly earnings data 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%. On average, equities research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.
Parker-Hannifin Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.99%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.
About Parker-Hannifin
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.
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