Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC increased its holdings in Parker-Hannifin Co. (NYSE:PH) by 596.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 230,889 shares of the industrial products company’s stock after acquiring an additional 197,741 shares during the quarter. Kovitz Investment Group Partners LLC owned approximately 0.18% of Parker-Hannifin worth $146,852,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $25,000. Millstone Evans Group LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $30,000. Bank of New Hampshire acquired a new position in Parker-Hannifin in the fourth quarter worth about $35,000. Finally, Kestra Investment Management LLC bought a new stake in Parker-Hannifin in the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PH. Truist Financial decreased their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Wolfe Research downgraded shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Barclays dropped their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. UBS Group reduced their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, KeyCorp cut their price target on Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $705.35.

Parker-Hannifin Trading Up 2.8 %

Shares of NYSE:PH opened at $596.87 on Friday. The stock has a market capitalization of $76.83 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a 1-year low of $488.45 and a 1-year high of $718.44. The company has a 50 day moving average price of $609.54 and a 200 day moving average price of $646.88. 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 (NYSE:PH) last announced its earnings results 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%. On average, research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.21%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend 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.