AlTi Global Inc. Has $557,000 Holdings in Parker-Hannifin Co. (NYSE:PH)

AlTi Global Inc. decreased its holdings in Parker-Hannifin Co. (NYSE:PH) by 10.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 875 shares of the industrial products company’s stock after selling 107 shares during the quarter. AlTi Global Inc.’s holdings in Parker-Hannifin were worth $557,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PH. Vanguard Group Inc. boosted its holdings in Parker-Hannifin by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company’s stock worth $6,903,962,000 after purchasing an additional 111,406 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Parker-Hannifin by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company’s stock worth $1,699,580,000 after buying an additional 99,261 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Parker-Hannifin by 8.6% in the 4th quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company’s stock worth $1,591,810,000 after buying an additional 198,292 shares during the last quarter. Norges Bank bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $1,106,132,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Parker-Hannifin by 17.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,600,842 shares of the industrial products company’s stock valued at $1,018,185,000 after acquiring an additional 237,634 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH opened at $619.37 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a market capitalization of $79.73 billion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. The stock’s 50-day simple moving average is $600.70 and its 200 day simple moving average is $645.71.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating analysts’ consensus estimates of $6.72 by $0.22. The company had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Parker-Hannifin’s revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business earned $6.51 earnings per share. Research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.16%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio is presently 27.72%.

Analysts Set New Price Targets

PH has been the subject of a number of recent analyst reports. Truist Financial reduced their price objective on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Evercore ISI lifted their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. KeyCorp increased their target price on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Wells Fargo & Company lifted their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $711.88.

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.