PFG Advisors Has $393,000 Stake in Parker-Hannifin Co. (NYSE:PH)

PFG Advisors reduced its stake in Parker-Hannifin Co. (NYSE:PH) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 617 shares of the industrial products company’s stock after selling 21 shares during the quarter. PFG Advisors’ holdings in Parker-Hannifin were worth $393,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PH. Prime Capital Investment Advisors LLC raised its position in Parker-Hannifin by 4.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,419 shares of the industrial products company’s stock valued at $897,000 after buying an additional 57 shares during the last quarter. Aptus Capital Advisors LLC grew its stake in Parker-Hannifin by 5.0% in the 3rd quarter. Aptus Capital Advisors LLC now owns 649 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 31 shares during the period. Empower Advisory Group LLC bought a new position in Parker-Hannifin in the 3rd quarter valued at $224,000. KBC Group NV grew its stake in Parker-Hannifin by 272.7% in the 3rd quarter. KBC Group NV now owns 38,633 shares of the industrial products company’s stock valued at $24,409,000 after purchasing an additional 28,268 shares during the period. Finally, Metis Global Partners LLC grew its stake in Parker-Hannifin by 1.8% in the 3rd quarter. Metis Global Partners LLC now owns 4,107 shares of the industrial products company’s stock valued at $2,595,000 after purchasing an additional 74 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PH has been the subject of a number of recent analyst reports. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research note on Thursday, December 12th. Evercore ISI increased their price target on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Truist Financial increased their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus increased their price target on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group increased their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Stock Performance

NYSE:PH opened at $608.17 on Friday. The business’s 50-day moving average price is $662.02 and its two-hundred day moving average price is $651.54. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The stock has a market cap of $78.28 billion, a P/E ratio of 25.17, a PEG ratio of 2.85 and a beta of 1.50. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

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.