Capital International Inc. CA Acquires Shares of 8,250 Parker-Hannifin Co. (NYSE:PH)

Capital International Inc. CA bought a new stake in Parker-Hannifin Co. (NYSE:PH - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,250 shares of the industrial products company's stock, valued at approximately $5,247,000.

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

Wall Street Analysts Forecast Growth

PH has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Truist Financial cut their target price on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. StockNews.com downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Citigroup cut their price target on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Evercore ISI lifted their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $705.35.

Parker-Hannifin Stock Up 0.1 %

Shares of Parker-Hannifin stock traded up $0.30 on Friday, hitting $597.11. The company had a trading volume of 220,874 shares, compared to its average volume of 713,411. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44. 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 stock has a 50 day moving average of $609.54 and a 200-day moving average of $646.88. The stock has a market capitalization of $76.86 billion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 2.85 and a beta of 1.39.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be given a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 1.21%. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio is presently 26.99%.

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.