World Equity Group Inc. Invests $953,000 in Parker-Hannifin Co. (NYSE:PH)

World Equity Group Inc. purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,500 shares of the industrial products company’s stock, valued at approximately $953,000.

Several other institutional investors also recently modified their holdings of the business. Global Retirement Partners LLC grew its position in shares of Parker-Hannifin by 1.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after buying an additional 15 shares during the period. Grove Bank & Trust grew its position in shares of Parker-Hannifin by 11.9% during the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after buying an additional 16 shares during the period. Moody Lynn & Lieberson LLC grew its holdings in Parker-Hannifin by 0.6% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock valued at $1,723,000 after purchasing an additional 16 shares during the period. Everpar Advisors LLC lifted its stake in Parker-Hannifin by 1.3% in the fourth quarter. Everpar Advisors LLC now owns 1,339 shares of the industrial products company’s stock valued at $852,000 after buying an additional 17 shares in the last quarter. Finally, LVW Advisors LLC lifted its stake in Parker-Hannifin by 0.9% in the fourth quarter. LVW Advisors LLC now owns 1,969 shares of the industrial products company’s stock valued at $1,252,000 after buying an additional 17 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. KeyCorp lifted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a research note on Thursday, December 12th. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Finally, Truist Financial boosted their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Price Performance

NYSE:PH opened at $667.06 on Friday. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The company has a market cap of $85.86 billion, a P/E ratio of 27.61, a P/E/G ratio of 2.85 and a beta of 1.45. The firm’s fifty day moving average price is $665.56 and its two-hundred day moving average price is $645.57. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH) last released 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 net margin of 15.87% and a return on equity of 27.34%. Equities analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.98%. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

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.