Harbour Investments Inc. Has $933,000 Stake in Parker-Hannifin Co. (NYSE:PH)

Harbour Investments Inc. reduced its position in shares of Parker-Hannifin Co. (NYSE:PH) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,467 shares of the industrial products company’s stock after selling 44 shares during the period. Harbour Investments Inc.’s holdings in Parker-Hannifin were worth $933,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PH. Proficio Capital Partners LLC boosted its stake in shares of Parker-Hannifin by 116,370.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock worth $725,229,000 after buying an additional 1,139,265 shares during the last quarter. State Street Corp boosted its position in Parker-Hannifin by 13.8% during the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after purchasing an additional 753,143 shares during the last quarter. Wellington Management Group LLP grew its stake in Parker-Hannifin by 39.9% in the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after purchasing an additional 564,365 shares in the last quarter. World Investment Advisors LLC bought a new position in Parker-Hannifin in the third quarter valued at approximately $226,570,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Parker-Hannifin by 176.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company’s stock worth $278,661,000 after purchasing an additional 279,480 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PH has been the subject of several analyst reports. Truist Financial raised their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. KeyCorp lifted their price objective 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. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a report on Thursday, December 12th. Citigroup began coverage on Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Trading Up 2.2 %

Shares of Parker-Hannifin stock opened at $629.93 on Thursday. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The stock has a market cap of $81.08 billion, a PE ratio of 26.07, a PEG ratio of 2.85 and a beta of 1.50. The firm has a 50-day moving average of $661.07 and a 200-day moving average of $652.16. 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 announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.04%. Parker-Hannifin’s dividend payout ratio is presently 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.