Parker-Hannifin Co. (NYSE:PH) Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 8.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,262 shares of the industrial products company’s stock after acquiring an additional 247 shares during the period. Concurrent Investment Advisors LLC’s holdings in Parker-Hannifin were worth $2,074,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PH. Foundations Investment Advisors LLC raised its position in shares of Parker-Hannifin by 3.3% in the third quarter. Foundations Investment Advisors LLC now owns 1,482 shares of the industrial products company’s stock valued at $936,000 after buying an additional 48 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Parker-Hannifin by 1.8% in the third quarter. Private Advisor Group LLC now owns 5,372 shares of the industrial products company’s stock valued at $3,394,000 after buying an additional 95 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Parker-Hannifin by 64,081.5% in the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock valued at $241,279,000 after buying an additional 381,285 shares during the last quarter. Grimes & Company Inc. raised its position in shares of Parker-Hannifin by 6.1% in the third quarter. Grimes & Company Inc. now owns 433 shares of the industrial products company’s stock valued at $274,000 after buying an additional 25 shares during the last quarter. Finally, Dakota Wealth Management grew its holdings in shares of Parker-Hannifin by 6.9% in the third quarter. Dakota Wealth Management now owns 1,088 shares of the industrial products company’s stock valued at $687,000 after purchasing an additional 70 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of analyst reports. TD Cowen upped their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Jefferies Financial Group upped their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Citigroup initiated coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective for the company. Truist Financial upped their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $739.06.

Parker-Hannifin Stock Performance

NYSE:PH opened at $667.06 on Friday. The firm’s fifty day moving average price is $665.65 and its 200 day moving average price is $643.57. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The firm has a market cap of $85.86 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 2.87 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping 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, sell-side analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Parker-Hannifin Company 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.