Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 8.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,961 shares of the industrial products company’s stock after purchasing an additional 1,051 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Parker-Hannifin were worth $8,880,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter worth approximately $25,000. Prestige Wealth Management Group LLC lifted its holdings in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new stake in Parker-Hannifin during the 4th quarter worth $35,000. Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth $40,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH opened at $640.86 on Thursday. The company has a market cap of $82.49 billion, a P/E ratio of 26.53, a PEG ratio of 2.85 and a beta of 1.45. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average price is $665.45 and its 200 day moving average price is $650.27.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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, research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share 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 paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is presently 26.99%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. KeyCorp upped 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. Barclays reduced their price objective 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. Evercore ISI upped their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. 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 report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average 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.