5,750 Shares in Parker-Hannifin Co. (NYSE:PH) Acquired by WIM INVESTMENT MANAGEMENT Ltd

WIM INVESTMENT MANAGEMENT Ltd purchased a new position in Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,750 shares of the industrial products company’s stock, valued at approximately $3,657,000. Parker-Hannifin accounts for approximately 1.3% of WIM INVESTMENT MANAGEMENT Ltd’s holdings, making the stock its 12th biggest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vinva Investment Management Ltd boosted its position in Parker-Hannifin by 6.8% in the 4th quarter. Vinva Investment Management Ltd now owns 6,407 shares of the industrial products company’s stock worth $4,080,000 after purchasing an additional 410 shares in the last quarter. Brooklyn FI LLC purchased a new stake in Parker-Hannifin in the 4th quarter worth approximately $636,000. Xponance Inc. lifted its position in shares of Parker-Hannifin by 5.7% during the 4th quarter. Xponance Inc. now owns 21,393 shares of the industrial products company’s stock valued at $13,607,000 after buying an additional 1,160 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $3,838,000. Finally, Horizon Investments LLC lifted its position in shares of Parker-Hannifin by 1.4% during the 4th quarter. Horizon Investments LLC now owns 2,115 shares of the industrial products company’s stock valued at $1,342,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PH. Jefferies Financial Group increased their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Citigroup began coverage on Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. Wells Fargo & Company increased their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Barclays decreased their price objective on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, Stifel Nicolaus raised their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Stock Down 0.9 %

Shares of NYSE:PH opened at $615.86 on Wednesday. The business has a 50-day moving average price of $661.29 and a 200 day moving average price of $652.32. 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 company has a market capitalization of $79.27 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month 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 (EPS) for the quarter, topping 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%. Sell-side analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.06%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend 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.