Parker-Hannifin Co. (NYSE:PH) Stake Raised by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. increased its holdings in Parker-Hannifin Co. (NYSE:PH) by 10.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,646 shares of the industrial products company’s stock after purchasing an additional 155 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Parker-Hannifin were worth $1,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin in the fourth quarter worth $25,000. Millstone Evans Group LLC bought a new position in Parker-Hannifin in the 4th quarter valued at about $30,000. Prestige Wealth Management Group LLC increased its stake in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after buying an additional 25 shares during the period. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin during the 4th quarter worth about $35,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $40,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on PH shares. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research note on Thursday, December 12th. Jefferies Financial Group lifted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Wells Fargo & Company upped their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Truist Financial lifted their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Stock Performance

Shares of PH opened at $600.78 on Monday. The company has a 50-day moving average of $658.39 and a two-hundred day moving average of $655.07. The stock has a market cap of $77.33 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 2.85 and a beta of 1.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping 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%. On average, equities research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current 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 given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.09%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s payout ratio 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.