5,043 Shares in Parker-Hannifin Co. (NYSE:PH) Purchased by Trek Financial LLC

Trek Financial LLC acquired a new stake in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 5,043 shares of the industrial products company’s stock, valued at approximately $3,207,000.

Other institutional investors also recently modified their holdings of the company. Benchmark Investment Advisors LLC lifted its stake in shares of Parker-Hannifin by 4.3% during the fourth quarter. Benchmark Investment Advisors LLC now owns 3,356 shares of the industrial products company’s stock valued at $2,135,000 after acquiring an additional 138 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $25,000. Federated Hermes Inc. raised its stake in shares of Parker-Hannifin by 24.5% during the fourth quarter. Federated Hermes Inc. now owns 53,999 shares of the industrial products company’s stock worth $34,345,000 after buying an additional 10,628 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Parker-Hannifin by 6.9% in the fourth quarter. Russell Investments Group Ltd. now owns 86,003 shares of the industrial products company’s stock valued at $54,707,000 after buying an additional 5,542 shares during the period. Finally, Wedbush Securities Inc. boosted its stake in Parker-Hannifin by 22.6% in the fourth quarter. Wedbush Securities Inc. now owns 1,144 shares of the industrial products company’s stock valued at $727,000 after acquiring an additional 211 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PH has been the topic of several recent research reports. 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. UBS Group reduced their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Truist Financial upped their price target on 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 lifted their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Finally, Citigroup assumed coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 target price for the company. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $517.00 on Friday. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company’s fifty day simple moving average is $649.18 and its 200-day simple moving average is $654.27. The firm has a market cap of $66.55 billion, a PE ratio of 21.40, a P/E/G ratio of 2.85 and a beta of 1.50. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Equities research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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