IFP Advisors Inc Buys 627 Shares of Parker-Hannifin Co. (NYSE:PH)

IFP Advisors Inc increased its stake in Parker-Hannifin Co. (NYSE:PH) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,160 shares of the industrial products company’s stock after buying an additional 627 shares during the period. IFP Advisors Inc’s holdings in Parker-Hannifin were worth $3,919,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Advisor Group LLC lifted its stake in shares of Parker-Hannifin by 1.8% in the 3rd quarter. Private Advisor Group LLC now owns 5,372 shares of the industrial products company’s stock valued at $3,394,000 after purchasing an additional 95 shares during the period. Dakota Wealth Management raised its holdings in Parker-Hannifin by 6.9% in the third quarter. Dakota Wealth Management now owns 1,088 shares of the industrial products company’s stock worth $687,000 after purchasing an additional 70 shares in the last quarter. Mediolanum International Funds Ltd lifted its position in Parker-Hannifin by 15.0% during the third quarter. Mediolanum International Funds Ltd now owns 2,335 shares of the industrial products company’s stock valued at $1,475,000 after buying an additional 304 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Parker-Hannifin by 3.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,099 shares of the industrial products company’s stock valued at $8,288,000 after buying an additional 395 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Parker-Hannifin by 1.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,753 shares of the industrial products company’s stock worth $17,535,000 after buying an additional 464 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research report on Thursday, December 12th. Truist Financial lifted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Robert W. Baird boosted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. UBS Group reduced their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Argus boosted their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $739.06.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $658.64 on Tuesday. 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 firm’s 50-day moving average price is $665.25 and its 200-day moving average price is $647.14. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The company has a market cap of $84.78 billion, a PE ratio of 27.26, a PEG ratio of 2.85 and a beta of 1.45.

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, topping the consensus estimate 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, analysts anticipate 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 will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 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.