Parker-Hannifin Co. (NYSE:PH) Shares Bought by Spire Wealth Management

Spire Wealth Management boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 52.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,075 shares of the industrial products company’s stock after acquiring an additional 370 shares during the quarter. Spire Wealth Management’s holdings in Parker-Hannifin were worth $684,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. West Branch Capital LLC acquired a new stake in Parker-Hannifin during the 3rd quarter worth approximately $25,000. Bangor Savings Bank lifted its position in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 31 shares during the period. Prestige Wealth Management Group LLC lifted its position in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $35,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Parker-Hannifin in the 3rd quarter valued at approximately $39,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $690.21 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a fifty day moving average of $666.68 and a two-hundred day moving average of $631.59. The company has a market capitalization of $88.84 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 2.90 and a beta of 1.45. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two 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 earnings per share for the quarter, topping 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%. On average, analysts anticipate that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Truist Financial raised their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. UBS Group reduced their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Jefferies Financial Group raised their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Stifel Nicolaus raised their price target on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Finally, StockNews.com cut Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.