Axa S.A. Grows Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Axa S.A. lifted its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 12.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,895 shares of the industrial products company's stock after purchasing an additional 8,782 shares during the quarter. Axa S.A. owned 0.06% of Parker-Hannifin worth $51,452,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin in the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $25,000. Millstone Evans Group LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at about $30,000. Bank of New Hampshire bought a new position in Parker-Hannifin during the 4th quarter worth approximately $35,000. Finally, Kestra Investment Management LLC purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $40,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $619.37 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44. The stock's 50-day simple moving average is $600.70 and its 200-day simple moving average is $645.71. The company has a market capitalization of $79.73 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 2.85 and a beta of 1.36.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $6.51 EPS. As a group, analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a $1.80 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.16%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio is presently 27.72%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PH shares. Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Truist Financial lowered their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Wolfe Research cut Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. UBS Group lowered their price target on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Finally, KeyCorp boosted their target price on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $711.88.

About Parker-Hannifin

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.

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