Daiwa Securities Group Inc. Buys 5,530 Shares of Parker-Hannifin Co. (NYSE:PH)

Daiwa Securities Group Inc. increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 17.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,758 shares of the industrial products company’s stock after acquiring an additional 5,530 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Parker-Hannifin were worth $23,379,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PH. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at $25,000. Prestige Wealth Management Group LLC lifted its position in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire acquired a new position in Parker-Hannifin during the 4th quarter valued at about $35,000. Kestra Investment Management LLC acquired a new position in Parker-Hannifin during the 4th quarter valued at about $40,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $44,000. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Truist Financial increased their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Evercore ISI raised their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Stock Down 4.3 %

Shares of NYSE PH opened at $607.29 on Tuesday. 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 52 week low of $492.71 and a 52 week high of $718.44. The stock has a market capitalization of $78.17 billion, a P/E ratio of 25.14, a PEG ratio of 2.85 and a beta of 1.50. The stock’s fifty day moving average is $664.29 and its 200 day moving average is $651.55.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

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.