Securian Asset Management Inc. Has $4.41 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

Securian Asset Management Inc. lessened its holdings in Parker-Hannifin Co. (NYSE:PH) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,935 shares of the industrial products company’s stock after selling 183 shares during the period. Securian Asset Management Inc.’s holdings in Parker-Hannifin were worth $4,411,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter worth about $25,000. Prestige Wealth Management Group LLC raised its stake in shares of 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 acquiring an additional 25 shares in the last quarter. Bank of New Hampshire bought a new position in shares of 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 worth approximately $40,000. Finally, Hager Investment Management Services LLC acquired a new position in Parker-Hannifin during the fourth quarter valued at approximately $44,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Up 0.4 %

PH opened at $613.81 on Thursday. The company has a market capitalization of $79.01 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.85 and a beta of 1.50. 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 firm’s fifty day moving average price is $663.37 and its two-hundred day moving average price is $651.41. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. On average, analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.06%. Parker-Hannifin’s payout ratio is presently 26.99%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. KeyCorp boosted their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Truist Financial raised their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Citigroup assumed coverage on Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 price objective for the company. Finally, Evercore ISI raised their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $736.65.

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.