1,912 Shares in Parker-Hannifin Co. (NYSE:PH) Bought by Ascent Wealth Partners LLC

Ascent Wealth Partners LLC acquired a new stake in Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,912 shares of the industrial products company’s stock, valued at approximately $1,216,000.

A number of other hedge funds have also recently modified their holdings of PH. Private Advisor Group LLC increased its position in shares of Parker-Hannifin by 1.8% in the third quarter. Private Advisor Group LLC now owns 5,372 shares of the industrial products company’s stock valued at $3,394,000 after acquiring an additional 95 shares during the period. Dakota Wealth Management increased its position in shares of Parker-Hannifin by 6.9% in the third quarter. Dakota Wealth Management now owns 1,088 shares of the industrial products company’s stock valued at $687,000 after acquiring an additional 70 shares during the period. Silver Oak Securities Incorporated increased its position in shares of Parker-Hannifin by 7,972.7% in the third quarter. Silver Oak Securities Incorporated now owns 1,776 shares of the industrial products company’s stock valued at $1,124,000 after acquiring an additional 1,754 shares during the period. Busey Bank increased its position in shares of Parker-Hannifin by 4.0% in the third quarter. Busey Bank now owns 605 shares of the industrial products company’s stock valued at $382,000 after acquiring an additional 23 shares during the period. Finally, Ballentine Partners LLC increased its position in shares of Parker-Hannifin by 7.6% in the third quarter. Ballentine Partners LLC now owns 1,498 shares of the industrial products company’s stock valued at $946,000 after acquiring an additional 106 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 4.1 %

Shares of Parker-Hannifin stock opened at $667.06 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a market capitalization of $85.86 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The company has a 50-day simple moving average of $665.56 and a two-hundred day simple moving average of $645.57.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) 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%. On average, analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced 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 of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.98%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PH. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Truist Financial lifted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Robert W. Baird lifted their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Citigroup began coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. Finally, Evercore ISI lifted their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $739.06.

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.