Cetera Investment Advisers Grows Stock Position in Parker-Hannifin Co. (NYSE:PH)

Cetera Investment Advisers increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,612 shares of the industrial products company's stock after acquiring an additional 971 shares during the period. Cetera Investment Advisers' holdings in Parker-Hannifin were worth $32,191,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Parker-Hannifin by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock valued at $6,903,962,000 after purchasing an additional 111,406 shares during the period. Geode Capital Management LLC increased its stake in shares of Parker-Hannifin by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock worth $1,699,580,000 after buying an additional 99,261 shares during the last quarter. Invesco Ltd. increased its stake in shares of Parker-Hannifin by 8.6% in the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company's stock worth $1,591,810,000 after buying an additional 198,292 shares during the last quarter. Norges Bank bought a new stake in shares of Parker-Hannifin in the fourth quarter worth $1,106,132,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Parker-Hannifin by 17.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,600,842 shares of the industrial products company's stock worth $1,018,185,000 after buying an additional 237,634 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PH. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $564.00 to $630.00 and gave the company a "hold" rating in a report on Friday, May 2nd. Citigroup reduced their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. KeyCorp lifted their price objective on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. StockNews.com cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Finally, Truist Financial cut their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $710.12.

Insider Activity

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the sale, the vice president now directly owns 2,083 shares of the company's stock, valued at $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Up 3.2%

Shares of NYSE:PH traded up $20.82 during trading on Monday, hitting $668.41. 1,081,409 shares of the company were exchanged, compared to its average volume of 722,632. The stock has a market cap of $85.41 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The firm has a fifty day moving average price of $598.40 and a two-hundred day moving average price of $645.61. 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 - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating 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 quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $6.51 EPS. As a group, research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Friday, May 9th. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio is presently 27.72%.

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.