Parker-Hannifin Co. (NYSE:PH) Stake Raised by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. raised its position in shares of Parker-Hannifin Co. (NYSE:PH) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,131 shares of the industrial products company’s stock after purchasing an additional 476 shares during the period. Royal London Asset Management Ltd.’s holdings in Parker-Hannifin were worth $33,793,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PH. Whipplewood Advisors LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth about $25,000. Prestige Wealth Management Group LLC raised its stake 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 purchasing an additional 25 shares in the last quarter. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth about $35,000. Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth about $40,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth about $44,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PH has been the subject of a number of recent research reports. Barclays cut their price target on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research note on Thursday, December 12th. KeyCorp raised their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Truist Financial raised their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Jefferies Financial Group raised their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Stock Performance

PH opened at $624.61 on Friday. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The firm has a market capitalization of $80.40 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The stock’s 50 day moving average price is $660.75 and its two-hundred day moving average price is $651.97. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data 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 return on equity of 27.34% and a net margin of 15.87%. On average, equities analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s 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.