Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Zimmer Partners LP

Zimmer Partners LP raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 61.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,500 shares of the industrial products company’s stock after purchasing an additional 16,100 shares during the quarter. Zimmer Partners LP’s holdings in Parker-Hannifin were worth $27,031,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PH. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $30,000. Kestra Investment Management LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $40,000. Finally, Meeder Asset Management Inc. grew its position in shares of Parker-Hannifin by 214.3% in the 4th quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 0.1%

Shares of PH stock opened at $679.71 on Tuesday. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44. The stock has a market cap of $86.85 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. The business’s fifty day moving average is $604.68 and its 200-day moving average is $647.65. 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 issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The company had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same period last year, the firm earned $6.51 EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share 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 given a dividend of $1.80 per share. The ex-dividend date is Friday, May 9th. 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 1.06%. Parker-Hannifin’s dividend payout ratio (DPR) is 27.72%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PH. Wells Fargo & Company raised their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. KeyCorp raised their price target on Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. 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. Evercore ISI raised their price target on Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Truist Financial cut their price target on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $718.44.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president now directly owns 2,083 shares in the company, valued at $1,292,230.71. The trade was a 6.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.39% of the stock is owned by insiders.

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.