Parker-Hannifin Co. (NYSE:PH) Position Increased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,561 shares of the industrial products company’s stock after purchasing an additional 821 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Parker-Hannifin were worth $16,894,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. West Branch Capital LLC bought a new position in shares of Parker-Hannifin in the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC lifted its stake in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after buying an additional 25 shares during the period. Bank of New Hampshire acquired a new stake in Parker-Hannifin during the fourth quarter worth about $35,000. Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin during the third quarter worth about $39,000. Finally, Hager Investment Management Services LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at approximately $44,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $691.65 on Friday. The business has a fifty day moving average of $666.12 and a 200-day moving average of $633.00. The firm has a market cap of $89.03 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 2.90 and a beta of 1.45. 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 Co. has a twelve month low of $492.71 and a twelve month high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. On average, equities research analysts predict that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PH. Truist Financial lifted their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Barclays lowered their price target on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a report on Thursday, December 12th. Argus upped their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, TD Cowen raised their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $725.06.

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.