Pictet Asset Management Holding SA Purchases 34,821 Shares of Parker-Hannifin Co. (NYSE:PH)

Pictet Asset Management Holding SA lifted its position in Parker-Hannifin Co. (NYSE:PH) by 6.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 557,160 shares of the industrial products company’s stock after acquiring an additional 34,821 shares during the period. Pictet Asset Management Holding SA owned 0.43% of Parker-Hannifin worth $354,370,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PH. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin during the fourth quarter worth about $25,000. Millstone Evans Group LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $30,000. Prestige Wealth Management Group LLC boosted its position in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $35,000. Finally, Kestra Investment Management LLC bought a new position in Parker-Hannifin during the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PH shares. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a report on Thursday, December 12th. Truist Financial upped their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Barclays reduced their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. UBS Group dropped their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Trading Down 1.7 %

NYSE:PH opened at $626.76 on Friday. The firm has a market capitalization of $80.68 billion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. 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 business has a fifty day moving average price of $659.79 and a 200-day moving average price of $653.92. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 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%. Sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given 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 dividend yield of 1.04%. Parker-Hannifin’s payout ratio is 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.