Vista Investment Partners II LLC Buys Shares of 5,768 Parker-Hannifin Co. (NYSE:PH)

Vista Investment Partners II LLC purchased a new position in Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, Holdings Channel reports. The fund purchased 5,768 shares of the industrial products company’s stock, valued at approximately $3,669,000. Parker-Hannifin makes up about 2.2% of Vista Investment Partners II LLC’s holdings, making the stock its 7th biggest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in PH. Proficio Capital Partners LLC lifted its position in shares of Parker-Hannifin by 116,370.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock worth $725,229,000 after buying an additional 1,139,265 shares during the last quarter. State Street Corp lifted 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 purchasing an additional 753,143 shares during the last quarter. Wellington Management Group LLP lifted 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 purchasing an additional 564,365 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth about $226,570,000. Finally, Mizuho Securities USA LLC lifted 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 purchasing an additional 353,393 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the subject of several research analyst reports. Citigroup initiated coverage on Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 price objective for the company. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research report on Thursday, December 12th. Truist Financial boosted their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Barclays cut their price target on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, TD Cowen upped their price target on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. 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 currently has an average rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Trading Up 0.7 %

PH stock opened at $635.57 on Monday. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The firm has a market cap of $81.81 billion, a P/E ratio of 26.31, a P/E/G ratio of 2.85 and a beta of 1.50. The business’s 50 day moving average is $664.88 and its 200-day moving average is $651.41. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last released its quarterly 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%. Equities analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.03%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

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.