Clearbridge Investments LLC Purchases 3,194 Shares of Parker-Hannifin Co. (NYSE:PH)

Clearbridge Investments LLC boosted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 213,207 shares of the industrial products company’s stock after purchasing an additional 3,194 shares during the period. Clearbridge Investments LLC owned about 0.17% of Parker-Hannifin worth $135,606,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth approximately $25,000. Millstone Evans Group LLC purchased a new stake in Parker-Hannifin in the fourth quarter worth $30,000. Prestige Wealth Management Group LLC lifted its position in shares of Parker-Hannifin by 83.3% during the third 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 during the last quarter. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at $35,000. Finally, Kestra Investment Management LLC bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $40,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PH. Barclays decreased their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a report on Monday, March 10th. UBS Group lowered their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Citigroup started coverage on Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 price objective on the stock. Truist Financial upped their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Jefferies Financial Group raised their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Stock Down 4.1 %

Parker-Hannifin stock opened at $600.78 on Monday. The business has a fifty day moving average price of $658.39 and a 200-day moving average price of $655.07. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The stock has a market capitalization of $77.33 billion, a price-to-earnings ratio of 24.87, a PEG 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.

Parker-Hannifin (NYSE:PH) last issued its quarterly 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 return on equity of 27.34% and a net margin of 15.87%. Equities research analysts forecast 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 paid a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.09%. Parker-Hannifin’s payout ratio is currently 26.99%.

Parker-Hannifin Company 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.