Inman Jager Wealth Management LLC Buys Shares of 334 Parker-Hannifin Co. (NYSE:PH)

Inman Jager Wealth Management LLC bought a new stake in shares of Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 334 shares of the industrial products company’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. West Branch Capital LLC bought a new stake in shares of Parker-Hannifin during the third quarter valued at approximately $25,000. Bangor Savings Bank grew its position in Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 31 shares during the period. Prestige Wealth Management Group LLC grew its position in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire bought a new stake in Parker-Hannifin in the fourth quarter valued at $35,000. Finally, Northwest Investment Counselors LLC bought a new stake in Parker-Hannifin in the third quarter valued at $39,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 0.1 %

NYSE PH opened at $688.68 on Thursday. The firm has a market cap of $88.65 billion, a P/E ratio of 28.50, a P/E/G ratio of 2.90 and a beta of 1.45. 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 50-day moving average is $666.34 and its 200-day moving average is $632.61. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data 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%. Sell-side analysts anticipate that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.95%. Parker-Hannifin’s payout ratio is presently 26.99%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Stifel Nicolaus upped their price target on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Truist Financial increased their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Mizuho increased their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Argus increased their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Barclays decreased their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $725.06.

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.