Quantbot Technologies LP Takes $749,000 Position in Parker-Hannifin Co. (NYSE:PH)

Quantbot Technologies LP bought a new stake in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,177 shares of the industrial products company’s stock, valued at approximately $749,000.

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

Analysts Set New Price Targets

Several analysts recently commented on the company. Jefferies Financial Group boosted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a report on Thursday, December 12th. KeyCorp boosted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Barclays dropped their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $636.82 on Thursday. 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 firm has a market capitalization of $81.97 billion, a P/E ratio of 26.36, a PEG ratio of 2.85 and a beta of 1.50. The business has a 50-day moving average of $660.41 and a 200-day moving average of $654.11. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year 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, beating 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 analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s payout ratio is presently 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.