Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Truist Financial Corp

Truist Financial Corp raised its stake in Parker-Hannifin Co. (NYSE:PH) by 4.0% in the fourth quarter, HoldingsChannel reports. The fund owned 153,998 shares of the industrial products company’s stock after purchasing an additional 5,931 shares during the period. Truist Financial Corp’s holdings in Parker-Hannifin were worth $97,947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of PH. State Street Corp lifted its holdings in Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after acquiring an additional 753,143 shares during the period. Wellington Management Group LLP lifted its holdings in Parker-Hannifin by 39.9% in the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after acquiring an additional 564,365 shares during the period. International Assets Investment Management LLC lifted its holdings in Parker-Hannifin by 64,081.5% in the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock valued at $241,279,000 after acquiring an additional 381,285 shares during the period. World Investment Advisors LLC acquired a new position in Parker-Hannifin in the third quarter valued at approximately $226,570,000. Finally, Mizuho Securities USA LLC lifted its holdings in Parker-Hannifin by 3,566.4% in the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after acquiring an additional 353,393 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PH shares. TD Cowen boosted their price target on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Barclays reduced their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Jefferies Financial Group upped their target price on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Argus upped their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $729.18.

Parker-Hannifin Stock Up 0.9 %

Shares of NYSE:PH opened at $700.13 on Monday. 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 $664.47 and a two-hundred day moving average of $640.39. The stock has a market cap of $90.12 billion, a P/E ratio of 28.98, a PEG ratio of 2.84 and a beta of 1.45. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44.

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, 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%. On average, research analysts expect that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is currently 26.99%.

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.