OFI Invest Asset Management Acquires Shares of 52,132 Parker-Hannifin Co. (NYSE:PH)

OFI Invest Asset Management bought a new position in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 52,132 shares of the industrial products company’s stock, valued at approximately $32,021,000.

A number of other institutional investors have also modified their holdings of PH. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin in the fourth quarter worth $25,000. Prestige Wealth Management Group LLC boosted its stake in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire bought a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC acquired 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 in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Ratings Changes

PH has been the topic of several analyst reports. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. KeyCorp increased their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Jefferies Financial Group boosted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. TD Cowen raised their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company boosted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $739.06.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $635.57 on Friday. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. 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 50-day moving average of $664.88 and a two-hundred day moving average of $650.95. The company has a market capitalization of $81.81 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued 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 1.03%. Parker-Hannifin’s payout ratio is presently 26.99%.

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.