Empower Advisory Group LLC Increases Stake in Parker-Hannifin Co. (NYSE:PH)

Empower Advisory Group LLC grew its stake in Parker-Hannifin Co. (NYSE:PH) by 14.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 405 shares of the industrial products company’s stock after buying an additional 51 shares during the quarter. Empower Advisory Group LLC’s holdings in Parker-Hannifin were worth $258,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PH. State Street Corp raised its position in shares of 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 acquiring an additional 753,143 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after acquiring an additional 564,365 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Parker-Hannifin by 64,081.5% during the 3rd quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock worth $241,279,000 after acquiring an additional 381,285 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $226,570,000. Finally, Mizuho Securities USA LLC raised its position in shares of Parker-Hannifin by 3,566.4% during 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 in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.9 %

Parker-Hannifin stock opened at $701.48 on Thursday. 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 1-year low of $492.71 and a 1-year high of $718.44. The company has a market cap of $90.30 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 2.87 and a beta of 1.45. The stock’s 50 day moving average price is $665.08 and its 200 day moving average price is $642.79.

Parker-Hannifin (NYSE:PH) last posted 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 return on equity of 27.34% and a net margin of 15.87%. On average, sell-side analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PH shares. Wells Fargo & Company raised their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Stifel Nicolaus raised their target price on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Barclays cut their price target on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Truist Financial lifted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $739.06.

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.