Nicholson Wealth Management Group LLC Raises Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Nicholson Wealth Management Group LLC increased its position in Parker-Hannifin Co. (NYSE:PH) by 47.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,139 shares of the industrial products company’s stock after buying an additional 691 shares during the quarter. Nicholson Wealth Management Group LLC’s holdings in Parker-Hannifin were worth $1,360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PH. Foundations Investment Advisors LLC increased its stake in shares of Parker-Hannifin by 3.3% in the third quarter. Foundations Investment Advisors LLC now owns 1,482 shares of the industrial products company’s stock worth $936,000 after buying an additional 48 shares during the period. Private Advisor Group LLC increased its stake in shares of Parker-Hannifin by 1.8% in the third quarter. Private Advisor Group LLC now owns 5,372 shares of the industrial products company’s stock worth $3,394,000 after buying an additional 95 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in shares of Parker-Hannifin by 41.1% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 707 shares of the industrial products company’s stock worth $447,000 after buying an additional 206 shares during the period. Greenleaf Trust increased its position in Parker-Hannifin by 3.9% during the 3rd quarter. Greenleaf Trust now owns 2,918 shares of the industrial products company’s stock valued at $1,844,000 after purchasing an additional 110 shares during the period. Finally, International Assets Investment Management LLC increased its position in Parker-Hannifin by 64,081.5% during the 3rd quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock valued at $241,279,000 after purchasing an additional 381,285 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $695.82 on Friday. The stock has a market cap of $89.57 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 2.87 and a beta of 1.45. The firm’s 50-day moving average is $665.39 and its 200 day moving average is $643.20. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. 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 (NYSE:PH) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PH shares. UBS Group reduced their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Truist Financial boosted their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Argus boosted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research report on Thursday, December 12th. Finally, StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $739.06.

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.