AGF Management Ltd. Acquires 85 Shares of Parker-Hannifin Co. (NYSE:PH)

AGF Management Ltd. grew its position in shares of Parker-Hannifin Co. (NYSE:PH) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,283 shares of the industrial products company’s stock after buying an additional 85 shares during the period. AGF Management Ltd.’s holdings in Parker-Hannifin were worth $2,088,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at $25,000. Prestige Wealth Management Group LLC lifted its position 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 valued at $35,000 after buying an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at $35,000. Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at $40,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $608.17 on Friday. 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 $78.28 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The business’s 50-day moving average price is $662.02 and its 200-day moving average price is $651.12. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS 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 forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.07%. Parker-Hannifin’s payout ratio is 26.99%.

Analyst Ratings Changes

PH has been the topic of a number of recent research reports. Jefferies Financial Group upped their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Wells Fargo & Company increased their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Barclays dropped their price objective on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, Truist Financial increased their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock 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.