United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Takes Position in Parker-Hannifin Co. (NYSE:PH)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, Holdings Channel reports. The firm acquired 1,500 shares of the industrial products company’s stock, valued at approximately $954,000.

Several other large investors also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $25,000. Millstone Evans Group LLC purchased a new position in Parker-Hannifin in the fourth quarter worth $30,000. Prestige Wealth Management Group LLC increased its stake in 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 acquiring an additional 25 shares during the last quarter. Bank of New Hampshire bought a new stake in Parker-Hannifin during the fourth quarter worth about $35,000. Finally, Kestra Investment Management LLC purchased a new stake in Parker-Hannifin in the fourth quarter worth approximately $40,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 1.4 %

Shares of Parker-Hannifin stock opened at $651.41 on Wednesday. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The firm has a market cap of $83.85 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 2.85 and a beta of 1.50. The company has a 50-day moving average of $660.80 and a 200 day moving average of $654.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

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 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%. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PH shares. Barclays cut their price target on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. KeyCorp raised their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Truist Financial raised their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Wells Fargo & Company upped their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Evercore ISI upped their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and fifteen have given 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.

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.