Rockefeller Capital Management L.P. raised its position in Parker-Hannifin Corporation (NYSE:PH – Free Report) by 19.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,406 shares of the industrial products company’s stock after purchasing an additional 31,870 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.15% of Parker-Hannifin worth $170,876,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. World Investment Advisors increased its holdings in Parker-Hannifin by 47.1% in the fourth quarter. World Investment Advisors now owns 2,848 shares of the industrial products company’s stock worth $2,503,000 after buying an additional 912 shares during the last quarter. Demming Financial Services Corp ADV acquired a new stake in Parker-Hannifin in the fourth quarter valued at approximately $321,000. Farmers National Bank bought a new stake in Parker-Hannifin in the fourth quarter worth approximately $310,000. Corient Private Wealth LLC grew its position in Parker-Hannifin by 6.9% in the fourth quarter. Corient Private Wealth LLC now owns 249,267 shares of the industrial products company’s stock worth $219,342,000 after acquiring an additional 16,030 shares in the last quarter. Finally, Union Savings Bank acquired a new position in shares of Parker-Hannifin during the 4th quarter worth $246,000. 82.44% of the stock is owned by institutional investors and hedge funds.
Parker-Hannifin Price Performance
Shares of Parker-Hannifin stock opened at $954.25 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. The company has a market cap of $120.32 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 2.77 and a beta of 1.14. The firm has a fifty day moving average price of $909.58 and a two-hundred day moving average price of $921.35. Parker-Hannifin Corporation has a fifty-two week low of $646.51 and a fifty-two week high of $1,034.96.
Parker-Hannifin Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were paid a dividend of $2.00 per share. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.80. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, May 8th. Parker-Hannifin’s dividend payout ratio is presently 29.51%.
Analysts Set New Price Targets
Several research firms recently issued reports on PH. Citigroup reaffirmed a “buy” rating on shares of Parker-Hannifin in a research note on Monday, June 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a report on Tuesday, April 21st. Evercore set a $1,064.00 price objective on Parker-Hannifin in a research report on Monday, May 11th. Mizuho set a $1,050.00 target price on Parker-Hannifin in a research note on Friday, May 1st. Finally, Wells Fargo & Company lowered their target price on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.05.
Read Our Latest Stock Analysis on Parker-Hannifin
About Parker-Hannifin
Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.
Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.
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