Ossiam boosted its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 246.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,909 shares of the industrial products company's stock after acquiring an additional 6,340 shares during the period. Ossiam's holdings in Parker-Hannifin were worth $5,666,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $30,000. Bank of New Hampshire acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC bought a new position in shares of Parker-Hannifin in the fourth quarter worth $40,000. 82.44% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
PH has been the subject of several research analyst reports. KeyCorp reduced their price objective on shares of Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Evercore ISI raised 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. Truist Financial decreased their price target on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. StockNews.com downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Finally, Citigroup decreased their target price on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $705.35.
View Our Latest Stock Analysis on Parker-Hannifin
Parker-Hannifin Stock Up 0.0 %
Parker-Hannifin stock traded up $0.02 during mid-day trading on Friday, hitting $596.83. The company's stock had a trading volume of 220,874 shares, compared to its average volume of 713,411. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. The firm's 50 day moving average is $609.54 and its 200 day moving average is $646.88. The company has a market cap of $76.82 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data 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 net margin of 15.87% and a return on equity of 27.34%. On average, analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current 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 paid 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 payout ratio is 26.99%.
About Parker-Hannifin
(
Free Report)
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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