River Global Investors LLP Has $2.66 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

River Global Investors LLP reduced its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 22.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,770 shares of the industrial products company's stock after selling 1,632 shares during the quarter. River Global Investors LLP's holdings in Parker-Hannifin were worth $2,659,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth about $26,000. OFI Invest Asset Management purchased a new position in shares of Parker-Hannifin during the 3rd quarter worth approximately $25,000. Baystate Wealth Management LLC raised its position in shares of Parker-Hannifin by 233.3% in the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company's stock worth $27,000 after acquiring an additional 49 shares in the last quarter. Oakworth Capital Inc. lifted its stake in shares of Parker-Hannifin by 48.3% in the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 28 shares during the period. Finally, ORG Partners LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $42,000. Institutional investors own 82.44% of the company's stock.

Analysts Set New Price Targets

PH has been the subject of a number of recent research reports. Mizuho lifted their price target on shares of Parker-Hannifin from $490.00 to $550.00 and gave the company a "neutral" rating in a research report on Friday. KeyCorp boosted their price target on Parker-Hannifin from $575.00 to $640.00 and gave the stock an "overweight" rating in a research report on Thursday, April 11th. Truist Financial raised their price objective on Parker-Hannifin from $602.00 to $611.00 and gave the company a "buy" rating in a research report on Friday. Barclays dropped their target price on Parker-Hannifin from $625.00 to $618.00 and set an "overweight" rating on the stock in a report on Friday. Finally, TD Cowen upgraded Parker-Hannifin from an "underperform" rating to a "market perform" rating and raised their price target for the company from $300.00 to $500.00 in a report on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average price target of $523.94.

Parker-Hannifin Stock Performance

Shares of PH traded up $5.50 on Friday, reaching $536.18. The company's stock had a trading volume of 970,079 shares, compared to its average volume of 601,506. The stock's 50 day simple moving average is $544.96 and its two-hundred day simple moving average is $482.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.49. The stock has a market capitalization of $68.85 billion, a P/E ratio of 25.27, a PEG ratio of 1.91 and a beta of 1.51. Parker-Hannifin Co. has a 12-month low of $319.14 and a 12-month high of $570.15.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping the consensus estimate of $6.10 by $0.41. The business had revenue of $5.07 billion for the quarter, compared to analysts' expectations of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The company's revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $5.93 EPS. Research analysts forecast that Parker-Hannifin Co. will post 24.69 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 7th. Shareholders of record on Friday, May 10th will be given a $1.63 dividend. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.48. The ex-dividend date is Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. Parker-Hannifin's dividend payout ratio is presently 27.90%.

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.