Parker-Hannifin Co. (NYSE:PH) Shares Bought by Northern Trust Corp

Northern Trust Corp boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 15.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,345,564 shares of the industrial products company’s stock after buying an additional 182,134 shares during the quarter. Northern Trust Corp owned 1.05% of Parker-Hannifin worth $855,819,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Anchor Investment Management LLC lifted its stake in shares of Parker-Hannifin by 10.5% during the third quarter. Anchor Investment Management LLC now owns 317 shares of the industrial products company’s stock valued at $200,000 after buying an additional 30 shares during the period. Stock Yards Bank & Trust Co. acquired a new position in Parker-Hannifin during the 3rd quarter worth $217,000. World Investment Advisors LLC bought a new stake in Parker-Hannifin in the third quarter valued at about $584,000. Wilmington Savings Fund Society FSB raised its stake in Parker-Hannifin by 176.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 9,108 shares of the industrial products company’s stock valued at $5,755,000 after buying an additional 5,817 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in Parker-Hannifin by 10.8% during the third quarter. Tidal Investments LLC now owns 9,683 shares of the industrial products company’s stock valued at $6,118,000 after buying an additional 946 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PH. Stifel Nicolaus dropped their price target on Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company increased 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. Truist Financial decreased their price target on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Barclays cut their price objective on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Finally, Wolfe Research downgraded Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $705.35.

Parker-Hannifin Trading Down 0.2 %

Shares of NYSE PH opened at $597.00 on Tuesday. The stock has a market cap of $76.85 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 2.85 and a beta of 1.39. The business has a 50 day simple moving average of $605.53 and a 200 day simple moving average of $646.60. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week 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.

Parker-Hannifin (NYSE:PH) last announced 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%. On average, research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be given a $1.80 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.80%.

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.