Vinva Investment Management Ltd Boosts Stake in Parker-Hannifin Co. (NYSE:PH)

Vinva Investment Management Ltd boosted its stake in Parker-Hannifin Co. (NYSE:PH) by 6.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,407 shares of the industrial products company’s stock after buying an additional 410 shares during the quarter. Vinva Investment Management Ltd’s holdings in Parker-Hannifin were worth $4,080,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PH. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at $25,000. Prestige Wealth Management Group LLC raised its holdings in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new position in Parker-Hannifin in the 4th quarter valued at $35,000. Kestra Investment Management LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at $40,000. Finally, Hager Investment Management Services LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $629.93 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The company’s 50-day simple moving average is $661.07 and its 200-day simple moving average is $652.16. The stock has a market capitalization of $81.08 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last issued its quarterly 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%. Equities analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.04%. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Analysts Set New Price Targets

Several brokerages have weighed in on PH. StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a report on Thursday, December 12th. KeyCorp upped their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Evercore ISI increased their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Citigroup began coverage on Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 price target for the company. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $736.65.

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.