Benchmark Investment Advisors LLC Grows Holdings in Parker-Hannifin Co. (NYSE:PH)

Benchmark Investment Advisors LLC raised its position in Parker-Hannifin Co. (NYSE:PH) by 4.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,356 shares of the industrial products company’s stock after purchasing an additional 138 shares during the period. Parker-Hannifin makes up approximately 1.4% of Benchmark Investment Advisors LLC’s investment portfolio, making the stock its 20th biggest position. Benchmark Investment Advisors LLC’s holdings in Parker-Hannifin were worth $2,135,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin in the fourth quarter valued at about $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $25,000. Millstone Evans Group LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $30,000. Prestige Wealth Management Group LLC grew its position in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares in the last quarter. Finally, Bank of New Hampshire bought a new stake in shares of Parker-Hannifin in the fourth quarter worth $35,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on PH shares. Truist Financial raised their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. KeyCorp increased their target price on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Stifel Nicolaus boosted their price target on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Finally, Citigroup started 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. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Stock Performance

PH opened at $517.00 on Friday. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The stock has a market cap of $66.55 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The business’s 50 day moving average is $649.18 and its 200-day moving average is $654.27. 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 announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (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, analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.26%. Parker-Hannifin’s payout ratio is 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.