Advisors Asset Management Inc. Raises Position in Parker-Hannifin Co. (NYSE:PH)

Advisors Asset Management Inc. lifted its stake in Parker-Hannifin Co. (NYSE:PH) by 45.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,232 shares of the industrial products company’s stock after purchasing an additional 3,499 shares during the period. Advisors Asset Management Inc.’s holdings in Parker-Hannifin were worth $7,144,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PH. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin in the fourth quarter worth about $25,000. Prestige Wealth Management Group LLC grew its stake 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 valued at $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire purchased a new stake in Parker-Hannifin in the 4th quarter worth approximately $35,000. Kestra Investment Management LLC purchased a new stake in Parker-Hannifin in the 4th quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC bought a new stake in Parker-Hannifin during the 4th quarter worth approximately $44,000. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PH shares. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research note on Thursday, December 12th. KeyCorp boosted their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Barclays cut their target price on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Truist Financial boosted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Jefferies Financial Group increased their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Price Performance

NYSE:PH opened at $615.86 on Wednesday. The firm has a market capitalization of $79.27 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 2.85 and a beta of 1.50. 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 business has a 50 day simple moving average of $661.29 and a 200-day simple moving average of $652.32. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44.

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

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend 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.