Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Virtus ETF Advisers LLC

Virtus ETF Advisers LLC increased its position in Parker-Hannifin Co. (NYSE:PH) by 15.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,843 shares of the industrial products company’s stock after purchasing an additional 247 shares during the quarter. Virtus ETF Advisers LLC’s holdings in Parker-Hannifin were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PH. Whipplewood Advisors LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Parker-Hannifin during the 4th quarter valued at approximately $25,000. Millstone Evans Group LLC purchased a new stake in Parker-Hannifin during the 4th quarter worth approximately $30,000. Bank of New Hampshire acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC purchased a new position in shares of 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 Analyst Weigh In

Several research firms recently issued reports on PH. Truist Financial cut their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Stifel Nicolaus lowered their price objective on Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating for the company in a report on Monday, April 14th. UBS Group reduced their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Barclays lowered their price target on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Finally, Wells Fargo & Company raised their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $705.35.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $597.68 on Friday. The firm’s 50 day moving average is $607.62 and its two-hundred day moving average is $646.67. The firm has a market capitalization of $76.93 billion, a P/E ratio of 24.74, a PEG ratio of 2.85 and a beta of 1.39. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44.

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

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a dividend of $1.80 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.20%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

About Parker-Hannifin

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.