Strategy Asset Managers LLC Has $381,000 Stock Position in Parker-Hannifin Co. (NYSE:PH)

Strategy Asset Managers LLC boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 599 shares of the industrial products company’s stock after purchasing an additional 37 shares during the quarter. Strategy Asset Managers LLC’s holdings in Parker-Hannifin were worth $381,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Townsquare Capital LLC lifted its stake in shares of Parker-Hannifin by 14.9% in the third quarter. Townsquare Capital LLC now owns 5,275 shares of the industrial products company’s stock valued at $3,333,000 after buying an additional 685 shares during the period. CreativeOne Wealth LLC raised its holdings in Parker-Hannifin by 24.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 965 shares of the industrial products company’s stock valued at $610,000 after acquiring an additional 187 shares in the last quarter. Verition Fund Management LLC lifted its position in shares of Parker-Hannifin by 247.8% in the 3rd quarter. Verition Fund Management LLC now owns 20,377 shares of the industrial products company’s stock worth $12,875,000 after acquiring an additional 14,519 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Parker-Hannifin during the third quarter valued at approximately $1,898,000. Finally, FSA Wealth Management LLC acquired a new position in shares of Parker-Hannifin in the third quarter valued at $83,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Down 4.1 %

NYSE:PH opened at $600.78 on Friday. The stock’s fifty day moving average price is $658.39 and its two-hundred day moving average price is $654.58. The company has a market cap of $77.33 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week 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.

Parker-Hannifin (NYSE:PH) last issued its quarterly 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, analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.09%. Parker-Hannifin’s payout ratio is presently 26.99%.

Wall Street Analysts Forecast Growth

PH has been the topic of several analyst reports. UBS Group lowered their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. KeyCorp raised their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Jefferies Financial Group upped their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Truist Financial boosted 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. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $736.65.

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.