Moment Partners LLC Acquires Shares of 420 Parker-Hannifin Co. (NYSE:PH)

Moment Partners LLC acquired a new stake in Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 420 shares of the industrial products company’s stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PH. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin during the fourth quarter worth $25,000. Millstone Evans Group LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter worth about $30,000. Prestige Wealth Management Group LLC boosted its stake in shares of 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 worth $35,000 after acquiring an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $35,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 2.2 %

Shares of PH opened at $636.82 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $660.41 and a 200 day moving average price of $654.11. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The firm has a market capitalization of $81.97 billion, a P/E ratio of 26.36, a P/E/G ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PH. UBS Group dropped their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Truist Financial upped their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Evercore ISI boosted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, Barclays decreased their target price on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.