Amundi Grows Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Amundi raised its position in shares of Parker-Hannifin Co. (NYSE:PH) by 11.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 533,577 shares of the industrial products company’s stock after purchasing an additional 54,471 shares during the period. Amundi owned approximately 0.41% of Parker-Hannifin worth $342,290,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Franklin Resources Inc. grew its stake in shares of Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock valued at $415,409,000 after buying an additional 181,859 shares during the last quarter. Howard Capital Management Group LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at about $23,390,000. SG Americas Securities LLC grew its stake in shares of Parker-Hannifin by 752.5% during the fourth 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 grew its stake in shares of Parker-Hannifin by 485.2% during 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 last quarter. Finally, Congress Asset Management Co. grew its stake 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 valued at $121,292,000 after buying an additional 25,605 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PH shares. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research note on Thursday, December 12th. Citigroup started coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 target price on the stock. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. Truist Financial raised their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company raised their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $739.06.

Parker-Hannifin Trading Up 0.7 %

Shares of Parker-Hannifin stock opened at $635.57 on Friday. The company has a market capitalization of $81.81 billion, a P/E ratio of 26.31, a P/E/G ratio of 2.85 and a beta of 1.50. 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 company has a fifty day moving average of $664.88 and a 200 day moving average of $650.95. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 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.