Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Davidson Capital Management Inc.

Davidson Capital Management Inc. increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,729 shares of the industrial products company’s stock after acquiring an additional 116 shares during the quarter. Parker-Hannifin comprises 1.0% of Davidson Capital Management Inc.’s investment portfolio, making the stock its 22nd biggest position. Davidson Capital Management Inc.’s holdings in Parker-Hannifin were worth $3,644,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. West Branch Capital LLC acquired a new stake in Parker-Hannifin during the third quarter worth about $25,000. Prestige Wealth Management Group LLC increased its holdings in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at approximately $35,000. Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin in the third quarter valued at approximately $39,000. Finally, Hager Investment Management Services LLC purchased a new position in Parker-Hannifin in the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PH shares. Citigroup started coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective on the stock. Barclays lowered their price target 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. Truist Financial increased their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. KeyCorp lifted their target price on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $729.18.

Parker-Hannifin Stock Up 0.0 %

PH opened at $680.72 on Wednesday. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The company has a market cap of $87.62 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.84 and a beta of 1.45. The business’s fifty day moving average is $665.16 and its two-hundred day moving average is $636.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Analysts anticipate that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Parker-Hannifin Company 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.