JARISLOWSKY FRASER Ltd Boosts Stock Position in Parker-Hannifin Co. (NYSE:PH)

JARISLOWSKY FRASER Ltd lifted its position in Parker-Hannifin Co. (NYSE:PH) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 366 shares of the industrial products company’s stock after buying an additional 21 shares during the quarter. JARISLOWSKY FRASER Ltd’s holdings in Parker-Hannifin were worth $233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at $25,000. Millstone Evans Group LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at $30,000. Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at $40,000. Finally, Meeder Asset Management Inc. raised its stake in shares of Parker-Hannifin by 214.3% in the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the sale, the vice president now directly owns 2,083 shares in the company, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $647.60 on Monday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a market cap of $83.36 billion, a P/E ratio of 26.80, a P/E/G ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. The business’s 50-day moving average price is $598.40 and its 200 day moving average price is $645.61.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating analysts’ consensus estimates of $6.72 by $0.22. The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The firm’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $6.51 earnings per share. On average, equities research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.11%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.72%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PH shares. Argus set a $680.00 target price on Parker-Hannifin in a report on Tuesday, May 6th. KeyCorp increased their target price on Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Truist Financial dropped their target price on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Wolfe Research lowered Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Finally, StockNews.com lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $710.12.

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.