Banco Bilbao Vizcaya Argentaria S.A. Has $2.10 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Banco Bilbao Vizcaya Argentaria S.A. trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 56.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,299 shares of the industrial products company’s stock after selling 4,262 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Parker-Hannifin were worth $2,098,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Burling Wealth Partners LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at about $2,226,000. Cartenna Capital LP grew its position in shares of Parker-Hannifin by 41.9% in the fourth quarter. Cartenna Capital LP now owns 152,513 shares of the industrial products company’s stock valued at $97,003,000 after purchasing an additional 45,013 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Parker-Hannifin by 1.2% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 232,399 shares of the industrial products company’s stock worth $147,813,000 after purchasing an additional 2,782 shares during the period. Syon Capital LLC lifted its holdings in Parker-Hannifin by 10.5% during the 4th quarter. Syon Capital LLC now owns 1,239 shares of the industrial products company’s stock worth $788,000 after purchasing an additional 118 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. bought a new stake in Parker-Hannifin in the 4th quarter valued at $706,000. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays dropped their target price on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Truist Financial cut their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Citigroup lowered their target price on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Wells Fargo & Company boosted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Wolfe Research lowered Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $705.35.

Parker-Hannifin Stock Up 0.1 %

PH stock opened at $597.68 on Friday. The stock has a market capitalization of $76.93 billion, a P/E ratio of 24.74, a price-to-earnings-growth 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. The firm has a 50-day moving average price of $607.62 and a 200-day moving average price of $646.77. Parker-Hannifin Co. has a 12 month low of $488.45 and a 12 month high of $718.44.

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

Parker-Hannifin Increases Dividend

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

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.