Lee Danner & Bass Inc. Makes New $106,000 Investment in Parker-Hannifin Co. (NYSE:PH)

Lee Danner & Bass Inc. bought a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 167 shares of the industrial products company’s stock, valued at approximately $106,000.

Several other institutional investors also recently made changes to their positions in PH. Holderness Investments Co. boosted its position in shares of Parker-Hannifin by 13.8% in the 4th quarter. Holderness Investments Co. now owns 931 shares of the industrial products company’s stock worth $592,000 after buying an additional 113 shares in the last quarter. HUB Investment Partners LLC boosted its position in shares of Parker-Hannifin by 15.7% in the 4th quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company’s stock worth $4,960,000 after buying an additional 1,057 shares in the last quarter. Whittier Trust Co. boosted its position in shares of Parker-Hannifin by 13.8% in the 4th quarter. Whittier Trust Co. now owns 3,226 shares of the industrial products company’s stock worth $2,052,000 after buying an additional 392 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth about $5,584,000. Finally, TAP Consulting LLC boosted its position in shares of Parker-Hannifin by 1.5% in the 4th quarter. TAP Consulting LLC now owns 3,973 shares of the industrial products company’s stock worth $2,527,000 after buying an additional 58 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 0.3 %

NYSE PH opened at $622.79 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company has a market cap of $80.17 billion, a P/E ratio of 25.78, a P/E/G ratio of 2.85 and a beta of 1.50. The company has a 50-day moving average of $660.60 and a 200-day moving average of $652.13.

Parker-Hannifin (NYSE:PH) last issued its 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%. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s payout ratio is currently 26.99%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PH shares. StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial boosted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus boosted their target price 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. Jefferies Financial Group boosted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin 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.