Parker-Hannifin Co. (NYSE:PH) Holdings Raised by Alta Advisers Ltd

by · The Markets Daily

Alta Advisers Ltd increased its position in shares of Parker-Hannifin Co. (NYSE:PH – Free Report) by 9.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 436 shares of the industrial products company’s stock after purchasing an additional 36 shares during the quarter. Alta Advisers Ltd’s holdings in Parker-Hannifin were worth $277,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin in the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Parker-Hannifin during the fourth quarter worth about $25,000. Millstone Evans Group LLC bought a new position in Parker-Hannifin in the fourth quarter worth about $30,000. Bank of New Hampshire acquired a new position in Parker-Hannifin in the fourth quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group cut their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Citigroup cut their target price on Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus lowered their price target on shares of Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating for the company in a research report on Monday, April 14th. Wolfe Research cut shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Finally, Truist Financial reduced their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $705.35.

Check Out Our Latest Stock Analysis on PH

Parker-Hannifin Stock Up 3.5 %

Shares of PH stock opened at $566.66 on Wednesday. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44. 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 business’s fifty day moving average is $613.99 and its 200-day moving average is $647.57. The stock has a market cap of $72.94 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39.

Parker-Hannifin (NYSE:PH – Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (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%. Equities analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share 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 given a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.15%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Parker-Hannifin Profile

(Free Report)

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.

Further Reading

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