Franklin Resources Inc. Has $579.47 Million Stake in Parker-Hannifin Co. (NYSE:PH)

Franklin Resources Inc. boosted its position in Parker-Hannifin Co. (NYSE:PH) by 41.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 911,075 shares of the industrial products company’s stock after purchasing an additional 265,559 shares during the period. Franklin Resources Inc. owned 0.71% of Parker-Hannifin worth $579,471,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Howard Capital Management Group LLC bought a new stake in shares of Parker-Hannifin in the fourth quarter worth $23,390,000. SG Americas Securities LLC grew its position in shares of Parker-Hannifin by 752.5% in the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock valued at $15,507,000 after buying an additional 21,521 shares during the last quarter. Columbus Macro LLC increased its stake in shares of Parker-Hannifin by 485.2% in the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock valued at $6,838,000 after buying an additional 8,914 shares during the period. Congress Asset Management Co. raised its position in shares of Parker-Hannifin by 15.5% during the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock worth $121,292,000 after acquiring an additional 25,605 shares during the last quarter. Finally, HUB Investment Partners LLC lifted its stake in shares of Parker-Hannifin by 15.7% in the fourth quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company’s stock worth $4,960,000 after acquiring an additional 1,057 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Performance

PH opened at $608.33 on Tuesday. The company has a market cap of $78.30 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 2.85 and a beta of 1.50. The company’s fifty day moving average price is $657.14 and its two-hundred day moving average price is $655.22. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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, analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors 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 yield of 1.07%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PH. Evercore ISI increased their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Jefferies Financial Group lifted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Barclays cut their price target on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Truist Financial lifted their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus upped their target price on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $736.65.

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.