Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc boosted its stake in Parker-Hannifin Co. (NYSE:PH) by 1.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,297 shares of the industrial products company’s stock after purchasing an additional 57 shares during the period. Pinnacle Financial Partners Inc’s holdings in Parker-Hannifin were worth $2,092,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC increased its holdings in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $35,000. Kestra Investment Management LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $40,000. Hager Investment Management Services LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $44,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $47,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $667.06 on Friday. The stock has a market cap of $85.86 billion, a P/E ratio of 27.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The company has a fifty day simple moving average of $665.56 and a 200-day simple moving average of $645.57. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last announced 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 net margin of 15.87% and a return on equity of 27.34%. Equities analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.98%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. KeyCorp raised their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Argus raised their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Evercore ISI raised their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Finally, Truist Financial raised their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $739.06.

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.