SouthState Corp Has $19.68 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

SouthState Corp lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 0.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 30,937 shares of the industrial products company’s stock after buying an additional 176 shares during the quarter. Parker-Hannifin makes up about 1.3% of SouthState Corp’s holdings, making the stock its 22nd largest holding. SouthState Corp’s holdings in Parker-Hannifin were worth $19,677,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PH. SlateStone Wealth LLC lifted its stake in Parker-Hannifin by 17.0% in the 4th quarter. SlateStone Wealth LLC now owns 1,758 shares of the industrial products company’s stock valued at $1,118,000 after acquiring an additional 255 shares in the last quarter. Corient Private Wealth LLC lifted its stake in Parker-Hannifin by 0.8% in the 4th quarter. Corient Private Wealth LLC now owns 207,866 shares of the industrial products company’s stock valued at $131,870,000 after acquiring an additional 1,652 shares in the last quarter. Greenwich Wealth Management LLC lifted its stake in Parker-Hannifin by 1.3% in the 4th quarter. Greenwich Wealth Management LLC now owns 12,320 shares of the industrial products company’s stock valued at $7,836,000 after acquiring an additional 162 shares in the last quarter. Choate Investment Advisors lifted its stake in Parker-Hannifin by 6.8% in the 4th quarter. Choate Investment Advisors now owns 1,893 shares of the industrial products company’s stock valued at $1,204,000 after acquiring an additional 121 shares in the last quarter. Finally, Diversified Enterprises LLC lifted its stake in Parker-Hannifin by 2.8% in the 4th quarter. Diversified Enterprises LLC now owns 730 shares of the industrial products company’s stock valued at $464,000 after acquiring an additional 20 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on PH. Barclays cut their target price on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Wells Fargo & Company upped their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Jefferies Financial Group upped their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Citigroup began coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 price objective on the stock. Finally, Truist Financial upped their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $608.17 on Monday. 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 stock’s fifty day moving average price is $662.02 and its two-hundred day moving average price is $651.99. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The firm has a market cap of $78.28 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

About Parker-Hannifin

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.