Tower Research Capital LLC TRC increased its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 93.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,224 shares of the industrial products company's stock after acquiring an additional 3,495 shares during the period. Tower Research Capital LLC TRC's holdings in Parker-Hannifin were worth $4,595,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the business. Anchor Investment Management LLC grew its stake in shares of Parker-Hannifin by 10.5% in the 3rd quarter. Anchor Investment Management LLC now owns 317 shares of the industrial products company's stock worth $200,000 after acquiring an additional 30 shares in the last quarter. Stock Yards Bank & Trust Co. purchased a new stake in Parker-Hannifin in the 3rd quarter valued at about $217,000. World Investment Advisors LLC bought a new stake in Parker-Hannifin during the third quarter worth $584,000. Wilmington Savings Fund Society FSB grew its stake in Parker-Hannifin by 176.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 9,108 shares of the industrial products company's stock valued at $5,755,000 after purchasing an additional 5,817 shares during the period. Finally, Tidal Investments LLC increased its position in shares of Parker-Hannifin by 10.8% during the 3rd quarter. Tidal Investments LLC now owns 9,683 shares of the industrial products company's stock valued at $6,118,000 after purchasing an additional 946 shares during the last quarter. Institutional investors own 82.44% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on PH. Wolfe Research downgraded shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Citigroup lowered their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Stifel Nicolaus dropped their price objective on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. StockNews.com downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company upped their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $705.35.
Check Out Our Latest Research Report on Parker-Hannifin
Parker-Hannifin Price Performance
PH stock traded up $0.87 during midday trading on Friday, reaching $597.68. The company had a trading volume of 530,407 shares, compared to its average volume of 715,241. The firm has a 50-day moving average price of $607.62 and a 200-day moving average price of $646.67. 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 company has a market capitalization of $76.93 billion, a P/E ratio of 24.74, a P/E/G ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44.
Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.
Parker-Hannifin Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a dividend of $1.80 per share. The ex-dividend date is Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.20%. Parker-Hannifin's dividend payout ratio (DPR) is 26.99%.
Parker-Hannifin Company Profile
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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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