Avidian Wealth Enterprises LLC Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

Avidian Wealth Enterprises LLC purchased a new stake in shares of Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 366 shares of the industrial products company’s stock, valued at approximately $233,000.

Several other institutional investors and hedge funds have also modified their holdings of PH. West Branch Capital LLC acquired a new stake in shares of Parker-Hannifin in the third quarter worth $25,000. Prestige Wealth Management Group LLC lifted its position in 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 acquiring an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $35,000. Northwest Investment Counselors LLC bought a new position in shares of Parker-Hannifin in the third quarter worth about $39,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PH. Truist Financial raised their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Jefferies Financial Group boosted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Citigroup initiated coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 price target for the company. TD Cowen boosted their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Finally, Barclays reduced their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $729.18.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $700.13 on Friday. The stock has a market capitalization of $90.12 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45. The business’s fifty day moving average price is $664.39 and its two-hundred day moving average price is $638.17. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH) last posted its 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 net margin of 15.87% and a return on equity of 27.34%. As a group, analysts predict that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

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.