Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 3.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,677,092 shares of the industrial products company’s stock after purchasing an additional 99,261 shares during the quarter. Geode Capital Management LLC’s holdings in Parker-Hannifin were worth $1,699,580,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Diametric Capital LP lifted its position in shares of Parker-Hannifin by 44.0% during the 4th quarter. Diametric Capital LP now owns 727 shares of the industrial products company’s stock valued at $462,000 after acquiring an additional 222 shares during the period. Franklin Resources Inc. increased its stake in Parker-Hannifin by 41.1% in the 4th quarter. Franklin Resources Inc. now owns 911,075 shares of the industrial products company’s stock valued at $579,471,000 after purchasing an additional 265,559 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its holdings in Parker-Hannifin by 7.8% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 9,589 shares of the industrial products company’s stock worth $6,099,000 after purchasing an additional 695 shares during the last quarter. Meeder Asset Management Inc. boosted its position in Parker-Hannifin by 214.3% during the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 45 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its holdings in Parker-Hannifin by 10.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 321 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the topic of several recent research reports. Barclays decreased their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Wells Fargo & Company upped their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. StockNews.com cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Truist Financial upped their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Evercore ISI raised their price target on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. 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 $609.53 on Wednesday. The business has a 50-day moving average of $655.77 and a two-hundred day moving average of $655.35. The firm has a market capitalization of $78.46 billion, a PE ratio of 25.23, a P/E/G ratio of 2.85 and a beta of 1.50. 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.

Parker-Hannifin (NYSE:PH) last posted 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 net margin of 15.87% and a return on equity of 27.34%. As a group, research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.07%. Parker-Hannifin’s dividend payout ratio 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.