King Luther Capital Management Corp lessened its position in Parker-Hannifin Corporation (NYSE:PH – Free Report) by 4.0% in the 4th quarter, Holdings Channel reports. The firm owned 132,915 shares of the industrial products company’s stock after selling 5,568 shares during the period. King Luther Capital Management Corp’s holdings in Parker-Hannifin were worth $116,827,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of PH. Texas Capital Bancshares Inc TX bought a new stake in Parker-Hannifin in the third quarter valued at approximately $25,000. Chilton Capital Management LLC bought a new stake in Parker-Hannifin in the third quarter valued at approximately $29,000. HFM Investment Advisors LLC increased its stake in Parker-Hannifin by 1,000.0% in the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 30 shares in the last quarter. Lloyd Advisory Services LLC. bought a new stake in Parker-Hannifin in the fourth quarter valued at approximately $31,000. Finally, Ameriflex Group Inc. increased its stake in Parker-Hannifin by 366.7% in the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.
Parker-Hannifin Stock Up 0.1%
Parker-Hannifin stock opened at $867.90 on Wednesday. The stock has a market capitalization of $109.55 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 2.52 and a beta of 1.18. Parker-Hannifin Corporation has a twelve month low of $646.51 and a twelve month high of $1,034.96. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $915.73 and a 200-day moving average of $915.86.
Parker-Hannifin Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be given a dividend of $2.00 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend is Friday, May 8th. This represents a $8.00 annualized dividend and a yield of 0.9%. Parker-Hannifin’s payout ratio is presently 29.51%.
Analyst Ratings Changes
Several brokerages have commented on PH. Robert W. Baird set a $1,050.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. Citigroup upped their price target on shares of Parker-Hannifin from $1,137.00 to $1,141.00 and gave the company a “buy” rating in a report on Friday, May 1st. Truist Financial set a $1,147.00 price target on shares of Parker-Hannifin in a report on Friday, May 1st. Barclays upped their price target on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a report on Friday, April 10th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,020.80.
Parker-Hannifin Company Profile
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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