Candriam S.C.A. Buys 7,480 Shares of Parker-Hannifin Co. (NYSE:PH)

Candriam S.C.A. grew its stake in Parker-Hannifin Co. (NYSE:PH) by 14.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,346 shares of the industrial products company’s stock after purchasing an additional 7,480 shares during the period. Candriam S.C.A.’s holdings in Parker-Hannifin were worth $37,746,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $25,000. Prestige Wealth Management Group LLC lifted its stake in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $35,000. Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $44,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $640.86 on Thursday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The business has a 50-day moving average price of $665.45 and a 200 day moving average price of $650.27. The firm has a market cap of $82.49 billion, a PE ratio of 26.53, a P/E/G ratio of 2.85 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating the consensus estimate 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 predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.02%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Barclays reduced their price objective on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. KeyCorp lifted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup began coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. Evercore ISI boosted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, Truist Financial lifted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two equities research 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $739.06.

About Parker-Hannifin

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.