Brown Brothers Harriman & Co. Grows Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Brown Brothers Harriman & Co. grew its holdings in Parker-Hannifin Co. (NYSE:PH) by 10.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,646 shares of the industrial products company’s stock after acquiring an additional 155 shares during the period. Brown Brothers Harriman & Co.’s holdings in Parker-Hannifin were worth $1,047,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CreativeOne Wealth LLC boosted its position in shares of Parker-Hannifin by 24.0% in the third quarter. CreativeOne Wealth LLC now owns 965 shares of the industrial products company’s stock worth $610,000 after buying an additional 187 shares during the period. Erste Asset Management GmbH acquired a new position in Parker-Hannifin during the 3rd quarter worth approximately $1,898,000. FSA Wealth Management LLC purchased a new position in Parker-Hannifin in the 3rd quarter worth approximately $83,000. Point72 Hong Kong Ltd acquired a new stake in Parker-Hannifin in the third quarter valued at approximately $3,458,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Parker-Hannifin by 71.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,153 shares of the industrial products company’s stock valued at $1,992,000 after purchasing an additional 1,317 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the subject of several analyst reports. UBS Group decreased their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. KeyCorp raised their target price on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Evercore ISI boosted their price target on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Barclays reduced their price target on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Stock Performance

Shares of PH opened at $600.78 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The business’s fifty day moving average price is $658.39 and its 200 day moving average price is $655.07. The stock has a market capitalization of $77.33 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.

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%. Equities research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s payout ratio is 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.