Thompson Investment Management Inc. Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

Thompson Investment Management Inc. acquired a new stake in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 150 shares of the industrial products company’s stock, valued at approximately $95,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC grew its stake in Parker-Hannifin by 8.6% in the third quarter. CWM LLC now owns 4,363 shares of the industrial products company’s stock valued at $2,757,000 after purchasing an additional 346 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Parker-Hannifin by 261.2% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 856 shares of the industrial products company’s stock valued at $541,000 after buying an additional 619 shares during the last quarter. First Affirmative Financial Network grew its stake in shares of Parker-Hannifin by 7.9% in the third quarter. First Affirmative Financial Network now owns 452 shares of the industrial products company’s stock valued at $286,000 after buying an additional 33 shares in the last quarter. Ritholtz Wealth Management increased its holdings in Parker-Hannifin by 88.4% during the third quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company’s stock worth $931,000 after buying an additional 691 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in Parker-Hannifin during the third quarter worth $97,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 1.2 %

Shares of PH stock opened at $683.62 on Monday. The stock has a market cap of $88.00 billion, a P/E ratio of 28.30, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $665.57 and a 200 day simple moving average of $634.90.

Parker-Hannifin (NYSE:PH) last released its earnings results 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 return on equity of 27.34% and a net margin of 15.87%. On average, research analysts predict that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.95%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PH shares. Jefferies Financial Group boosted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a research report on Thursday, December 12th. Truist Financial lifted their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. TD Cowen increased their price target on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Finally, StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $729.18.

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.