F M Investments LLC Acquires 184 Shares of Parker-Hannifin Co. (NYSE:PH)

F M Investments LLC raised its holdings in Parker-Hannifin Co. (NYSE:PH) by 14.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,494 shares of the industrial products company’s stock after buying an additional 184 shares during the quarter. F M Investments LLC’s holdings in Parker-Hannifin were worth $950,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. CenterBook Partners LP bought a new position in Parker-Hannifin in the fourth quarter worth about $1,065,000. APG Asset Management N.V. raised its position in shares of Parker-Hannifin by 427.9% in the 4th quarter. APG Asset Management N.V. now owns 89,752 shares of the industrial products company’s stock worth $55,128,000 after acquiring an additional 72,751 shares in the last quarter. Applied Finance Capital Management LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at approximately $1,067,000. FIL Ltd boosted its position in shares of Parker-Hannifin by 36.3% during the fourth quarter. FIL Ltd now owns 132,781 shares of the industrial products company’s stock valued at $84,453,000 after purchasing an additional 35,344 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Parker-Hannifin by 8.6% in the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company’s stock worth $1,591,810,000 after purchasing an additional 198,292 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PH shares. Wells Fargo & Company raised their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group dropped their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. StockNews.com downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Truist Financial dropped their price target on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, KeyCorp lowered their price objective on Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating for the company in a research note on Tuesday. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $720.47.

Parker-Hannifin Price Performance

PH opened at $564.78 on Friday. The company’s 50-day simple moving average is $631.27 and its two-hundred day simple moving average is $650.91. 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 stock has a market capitalization of $72.70 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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 predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s payout ratio is currently 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.