Envestnet Asset Management Inc. Has $430.21 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Envestnet Asset Management Inc. decreased its position in Parker-Hannifin Co. (NYSE:PH) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 676,402 shares of the industrial products company’s stock after selling 21,748 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.53% of Parker-Hannifin worth $430,212,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new stake in Parker-Hannifin during the fourth quarter valued at about $597,000. Aviva PLC lifted its position in shares of Parker-Hannifin by 38.3% during the 4th quarter. Aviva PLC now owns 58,724 shares of the industrial products company’s stock worth $37,350,000 after purchasing an additional 16,268 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in Parker-Hannifin during the 4th quarter valued at approximately $48,000. Oarsman Capital Inc. grew its holdings in Parker-Hannifin by 29.6% in the 4th quarter. Oarsman Capital Inc. now owns 1,972 shares of the industrial products company’s stock valued at $1,254,000 after buying an additional 450 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new position in Parker-Hannifin in the 4th quarter worth approximately $23,876,000. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Truist Financial raised their price objective 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. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group decreased their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. KeyCorp upped their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, StockNews.com lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Price Performance

NYSE:PH opened at $517.00 on Friday. 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 firm has a market cap of $66.55 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company’s 50-day moving average price is $649.18 and its two-hundred day moving average price is $654.27.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors 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 yield of 1.26%. Parker-Hannifin’s dividend payout ratio (DPR) is 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.