Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Vestcor Inc

Vestcor Inc raised its stake in Parker-Hannifin Co. (NYSE:PH) by 17.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,867 shares of the industrial products company’s stock after purchasing an additional 876 shares during the period. Vestcor Inc’s holdings in Parker-Hannifin were worth $3,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Avantax Advisory Services Inc. grew its stake in Parker-Hannifin by 1.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 9,616 shares of the industrial products company’s stock worth $6,116,000 after buying an additional 156 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Parker-Hannifin by 4.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,261 shares of the industrial products company’s stock valued at $802,000 after buying an additional 49 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Parker-Hannifin by 60.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 684 shares of the industrial products company’s stock worth $435,000 after purchasing an additional 258 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in Parker-Hannifin by 3.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 50,237 shares of the industrial products company’s stock worth $31,952,000 after purchasing an additional 1,595 shares during the last quarter. Finally, AGF Management Ltd. raised its holdings in Parker-Hannifin by 2.7% during the fourth quarter. AGF Management Ltd. now owns 3,283 shares of the industrial products company’s stock worth $2,088,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $591.55 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $76.14 billion, a price-to-earnings ratio of 24.48, a P/E/G ratio of 2.85 and a beta of 1.50. The firm’s 50 day simple moving average is $662.61 and its 200 day simple moving average is $651.00. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating 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 expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Evercore ISI increased their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. UBS Group reduced their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Truist Financial increased their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company raised their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average 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.