Momentous Wealth Management Inc. Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

Momentous Wealth Management Inc. acquired a new stake in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 4,018 shares of the industrial products company’s stock, valued at approximately $2,556,000. Parker-Hannifin makes up approximately 2.1% of Momentous Wealth Management Inc.’s portfolio, making the stock its 10th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Parker-Hannifin by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company’s stock valued at $6,903,962,000 after buying an additional 111,406 shares during the last quarter. State Street Corp lifted its holdings in Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after purchasing an additional 753,143 shares during the last quarter. FMR LLC boosted its position in Parker-Hannifin by 7.1% during the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after purchasing an additional 272,531 shares during the period. Geode Capital Management LLC increased its holdings in shares of Parker-Hannifin by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock valued at $1,623,689,000 after purchasing an additional 29,408 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Parker-Hannifin by 39.9% in the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after purchasing an additional 564,365 shares during the period. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PH shares. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Jefferies Financial Group upped their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Barclays reduced their target price on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Citigroup began coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective for the company. Finally, Truist Financial raised their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Trading Up 3.4 %

NYSE PH opened at $643.21 on Tuesday. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The business’s fifty day moving average is $660.71 and its 200 day moving average is $653.67. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market cap of $82.79 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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%. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is 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.