New Age Alpha Advisors LLC Increases Stock Position in Parker-Hannifin Co. (NYSE:PH)

New Age Alpha Advisors LLC lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 100,783.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,159 shares of the industrial products company’s stock after buying an additional 18,141 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Parker-Hannifin were worth $11,550,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Avestar Capital LLC grew its holdings in shares of Parker-Hannifin by 11.4% during the third quarter. Avestar Capital LLC now owns 645 shares of the industrial products company’s stock valued at $408,000 after buying an additional 66 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Parker-Hannifin by 58.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 134,612 shares of the industrial products company’s stock worth $85,051,000 after purchasing an additional 49,483 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of Parker-Hannifin by 14.9% in the third quarter. Townsquare Capital LLC now owns 5,275 shares of the industrial products company’s stock worth $3,333,000 after purchasing an additional 685 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of Parker-Hannifin by 24.0% during the third quarter. CreativeOne Wealth LLC now owns 965 shares of the industrial products company’s stock valued at $610,000 after purchasing an additional 187 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Parker-Hannifin by 5.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,626 shares of the industrial products company’s stock valued at $39,568,000 after buying an additional 3,290 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PH shares. Citigroup began coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a report on Thursday, December 12th. 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. Truist Financial raised their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, KeyCorp upped their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Stock Down 1.7 %

Shares of PH opened at $626.76 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $659.79 and a 200 day moving average of $653.92. The company has a market cap of $80.68 billion, a PE ratio of 25.94, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44.

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 net margin of 15.87% and a return on equity of 27.34%. On average, sell-side analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.04%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 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.