Kesler Norman & Wride LLC Raises Stake in Parker-Hannifin Co. (NYSE:PH)

Kesler Norman & Wride LLC lifted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 0.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,468 shares of the industrial products company’s stock after buying an additional 63 shares during the period. Parker-Hannifin accounts for approximately 1.3% of Kesler Norman & Wride LLC’s portfolio, making the stock its 25th largest holding. Kesler Norman & Wride LLC’s holdings in Parker-Hannifin were worth $6,023,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter worth $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at $30,000. Prestige Wealth Management Group LLC lifted its position in Parker-Hannifin by 83.3% during the third 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 period. Bank of New Hampshire acquired a new stake in Parker-Hannifin in the 4th quarter worth about $35,000. Finally, Kestra Investment Management LLC purchased a new stake in Parker-Hannifin in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the topic of several research analyst reports. Evercore ISI raised their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Wells Fargo & Company lifted their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Barclays dropped their price objective on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a report on Monday, March 10th. UBS Group reduced their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Truist Financial boosted 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. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Stock Up 0.3 %

Shares of NYSE:PH opened at $609.53 on Wednesday. The company has a market capitalization of $78.46 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The company has a 50 day moving average of $655.77 and a two-hundred day moving average of $655.35. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. 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 released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating 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, analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is 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.