Nebula Research & Development LLC Makes New $810,000 Investment in Parker-Hannifin Co. (NYSE:PH)

Nebula Research & Development LLC purchased a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,273 shares of the industrial products company's stock, valued at approximately $810,000.

Several other large investors also recently modified their holdings of PH. Kovitz Investment Group Partners LLC increased its position in Parker-Hannifin by 596.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 230,889 shares of the industrial products company's stock worth $146,852,000 after buying an additional 197,741 shares in the last quarter. Voya Investment Management LLC increased its holdings in Parker-Hannifin by 62.9% in the 4th quarter. Voya Investment Management LLC now owns 558,140 shares of the industrial products company's stock worth $354,841,000 after acquiring an additional 215,589 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in Parker-Hannifin by 2.0% during the 4th quarter. Integrated Wealth Concepts LLC now owns 1,382 shares of the industrial products company's stock worth $879,000 after acquiring an additional 27 shares during the period. Burling Wealth Partners LLC bought a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $2,226,000. Finally, Cartenna Capital LP boosted its position in shares of Parker-Hannifin by 41.9% in the fourth quarter. Cartenna Capital LP now owns 152,513 shares of the industrial products company's stock worth $97,003,000 after purchasing an additional 45,013 shares during the period. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Trading Up 1.0 %

Shares of PH traded up $5.76 during mid-day trading on Thursday, reaching $610.82. 1,236,788 shares of the company's stock traded hands, compared to its average volume of 720,570. Parker-Hannifin Co. has a 12 month low of $488.45 and a 12 month 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. The stock has a market cap of $78.62 billion, a P/E ratio of 25.28, a P/E/G ratio of 2.85 and a beta of 1.39. The stock's 50-day moving average is $602.42 and its two-hundred day moving average is $646.00.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping analysts' consensus estimates of $6.73 by $0.21. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business's revenue was down 2.2% on a year-over-year basis. During the same period last year, the business earned $6.51 EPS. Research analysts forecast 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 given a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, May 9th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a yield of 1.18%. Parker-Hannifin's payout ratio is 29.80%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup dropped their target price 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. Wolfe Research downgraded Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Stifel Nicolaus dropped their price target on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating for the company in a research note on Monday, April 14th. 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. Finally, Truist Financial cut their target price 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. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $705.35.

Parker-Hannifin Company 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.