Phoenix Financial Ltd. Purchases 658 Shares of Parker-Hannifin Co. (NYSE:PH)

Phoenix Financial Ltd. raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 187.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,009 shares of the industrial products company’s stock after purchasing an additional 658 shares during the quarter. Phoenix Financial Ltd.’s holdings in Parker-Hannifin were worth $642,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its stake in Parker-Hannifin by 39.2% during the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock valued at $415,409,000 after purchasing an additional 181,859 shares during the last quarter. Howard Capital Management Group LLC purchased a new position in Parker-Hannifin during the 4th quarter worth $23,390,000. SG Americas Securities LLC grew its stake in shares of Parker-Hannifin by 752.5% in the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock worth $15,507,000 after acquiring an additional 21,521 shares in the last quarter. Columbus Macro LLC grew its position in Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock worth $6,838,000 after purchasing an additional 8,914 shares in the last quarter. Finally, Congress Asset Management Co. increased its stake in Parker-Hannifin by 15.5% in the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock valued at $121,292,000 after buying an additional 25,605 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Stifel Nicolaus upped their target price on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Truist Financial decreased their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research note on Tuesday. StockNews.com lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Finally, KeyCorp cut their price target on Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating for the company in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $720.47.

Parker-Hannifin Trading Down 6.1 %

Shares of PH stock opened at $559.67 on Friday. The company has a market capitalization of $72.04 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The business’s fifty day moving average is $633.78 and its 200 day moving average is $651.30. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44.

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, 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, equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal 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 given a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.16%. Parker-Hannifin’s dividend payout ratio (DPR) 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.