Parker-Hannifin Co. (NYSE:PH) Shares Bought by Brasada Capital Management LP

Brasada Capital Management LP boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 50.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,500 shares of the industrial products company’s stock after purchasing an additional 500 shares during the period. Brasada Capital Management LP’s holdings in Parker-Hannifin were worth $954,000 at the end of the most recent reporting period.

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

PH opened at $566.66 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The company has a market capitalization of $72.94 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 2.85 and a beta of 1.39. The business’s 50-day moving average price is $613.99 and its two-hundred day moving average price is $647.57. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44.

Parker-Hannifin (NYSE:PH) last released its earnings results 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%. Equities analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Wall Street Analysts Forecast Growth

PH has been the topic of several analyst reports. StockNews.com lowered 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 company an “outperform” rating in a research report on Wednesday, February 19th. Barclays decreased their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Truist Financial cut their price target on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Stifel Nicolaus decreased their price objective on Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating for the company in a report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $705.35.

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.