Brasada Capital Management LP Boosts Position in Parker-Hannifin Co. (NYSE:PH)

Brasada Capital Management LP boosted its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 50.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,500 shares of the industrial products company's stock after acquiring an additional 500 shares during the quarter. Brasada Capital Management LP's holdings in Parker-Hannifin were worth $954,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PH. Global Retirement Partners LLC raised its position in Parker-Hannifin by 1.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock worth $886,000 after purchasing an additional 15 shares during the last quarter. FFT Wealth Management LLC lifted its stake in shares of Parker-Hannifin by 1.3% in the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock worth $732,000 after acquiring an additional 15 shares during the period. GenTrust LLC boosted its holdings in Parker-Hannifin by 2.9% in the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock valued at $333,000 after acquiring an additional 15 shares during the last quarter. Grove Bank & Trust increased its position in Parker-Hannifin by 11.9% during the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company's stock valued at $95,000 after purchasing an additional 16 shares during the period. Finally, Moody Lynn & Lieberson LLC boosted its stake in shares of Parker-Hannifin by 0.6% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company's stock valued at $1,723,000 after purchasing an additional 16 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PH shares. Citigroup lowered their price objective on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Barclays cut their price target on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. UBS Group lowered their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, Truist Financial dropped their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $705.35.

Parker-Hannifin Stock Performance

Parker-Hannifin stock traded down $3.58 during trading on Monday, hitting $594.44. The stock had a trading volume of 256,083 shares, compared to its average volume of 714,122. The stock's 50 day moving average is $607.62 and its two-hundred day moving average is $646.88. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44. The stock has a market cap of $76.52 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping the consensus estimate 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, analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors 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 a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. Parker-Hannifin's payout ratio is currently 29.80%.

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.