5,043 Shares in Parker-Hannifin Co. (NYSE:PH) Purchased by Trek Financial LLC

Trek Financial LLC bought a new position in Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,043 shares of the industrial products company’s stock, valued at approximately $3,207,000.

Other institutional investors have also made changes to their positions in the company. IHT Wealth Management LLC raised its position in Parker-Hannifin by 18.6% during the third quarter. IHT Wealth Management LLC now owns 1,705 shares of the industrial products company’s stock valued at $1,077,000 after buying an additional 267 shares during the period. Quantinno Capital Management LP grew its stake in Parker-Hannifin by 34.3% during the 3rd quarter. Quantinno Capital Management LP now owns 7,979 shares of the industrial products company’s stock valued at $5,042,000 after acquiring an additional 2,039 shares in the last quarter. Kovitz Investment Group Partners LLC increased its holdings in shares of Parker-Hannifin by 21.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 33,148 shares of the industrial products company’s stock valued at $19,936,000 after purchasing an additional 5,748 shares during the period. Insigneo Advisory Services LLC lifted its position in shares of Parker-Hannifin by 10.4% in the third quarter. Insigneo Advisory Services LLC now owns 1,562 shares of the industrial products company’s stock worth $987,000 after purchasing an additional 147 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in shares of Parker-Hannifin by 25.7% during the third quarter. EP Wealth Advisors LLC now owns 3,432 shares of the industrial products company’s stock worth $2,168,000 after purchasing an additional 701 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

NYSE PH opened at $517.00 on Friday. The stock has a market cap of $66.55 billion, a P/E ratio of 21.40, a PEG ratio of 2.85 and a beta of 1.50. 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 company’s 50-day simple moving average is $649.18 and its 200 day simple moving average is $654.27.

Parker-Hannifin (NYSE:PH) last issued 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%. As a group, research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced 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. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

Analyst Ratings Changes

A number of research firms have issued reports on PH. Citigroup assumed coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They issued a “buy” rating and a $795.00 target price for the company. Evercore ISI increased their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. KeyCorp upped their target price on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Truist Financial lifted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

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.