Parker-Hannifin Co. (NYSE:PH) Position Raised by Holderness Investments Co.

Holderness Investments Co. raised its position in shares of Parker-Hannifin Co. (NYSE:PH) by 13.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 931 shares of the industrial products company’s stock after purchasing an additional 113 shares during the quarter. Holderness Investments Co.’s holdings in Parker-Hannifin were worth $592,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Proficio Capital Partners LLC lifted its holdings in shares of Parker-Hannifin by 116,370.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after buying an additional 1,139,265 shares during the period. State Street Corp raised its position 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 worth $3,918,696,000 after acquiring an additional 753,143 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Parker-Hannifin by 39.9% in the 3rd 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 last quarter. World Investment Advisors LLC bought a new position in shares of Parker-Hannifin during the 3rd quarter valued at about $226,570,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Parker-Hannifin by 176.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company’s stock worth $278,661,000 after purchasing an additional 279,480 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on PH. StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company increased their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Truist Financial raised their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Citigroup initiated coverage on Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. Finally, Evercore ISI increased their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Down 0.9 %

Parker-Hannifin stock opened at $624.61 on Friday. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. 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 firm has a market cap of $80.40 billion, a PE ratio of 25.85, a P/E/G ratio of 2.85 and a beta of 1.50. The firm’s 50 day moving average price is $660.75 and its two-hundred day moving average price is $651.97.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating 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%. On average, research analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. Parker-Hannifin’s dividend payout ratio is 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.