Bleakley Financial Group LLC Increases Position in Parker-Hannifin Co. (NYSE:PH)

Bleakley Financial Group LLC increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,755 shares of the industrial products company’s stock after purchasing an additional 56 shares during the quarter. Bleakley Financial Group LLC’s holdings in Parker-Hannifin were worth $1,752,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PH. West Branch Capital LLC purchased a new stake in shares of Parker-Hannifin during the third quarter valued at about $25,000. Prestige Wealth Management Group LLC lifted its position in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new stake in Parker-Hannifin in the fourth quarter valued at approximately $35,000. Northwest Investment Counselors LLC purchased a new position in Parker-Hannifin in the third quarter worth $39,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth $44,000. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PH. Barclays lowered their price objective on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Mizuho boosted their price target on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research report on Thursday, December 12th. Truist Financial boosted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $729.18.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $683.62 on Friday. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market cap of $88.00 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 2.90 and a beta of 1.45. The business has a 50-day simple moving average of $665.96 and a 200-day simple moving average of $633.41.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS 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%. On average, equities analysts expect that Parker-Hannifin Co. will post 26.67 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company 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 dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.95%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

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.