Choreo LLC Grows Holdings in Parker-Hannifin Co. (NYSE:PH)

Choreo LLC increased its holdings in Parker-Hannifin Co. (NYSE:PH) by 6.4% in the 4th quarter, Holdings Channel reports. The fund owned 7,785 shares of the industrial products company’s stock after buying an additional 471 shares during the quarter. Choreo LLC’s holdings in Parker-Hannifin were worth $4,956,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Czech National Bank increased its stake in shares of Parker-Hannifin by 6.9% during the third quarter. Czech National Bank now owns 26,185 shares of the industrial products company’s stock valued at $16,544,000 after purchasing an additional 1,691 shares in the last quarter. Diversified Trust Co grew its stake in shares of Parker-Hannifin by 11.4% in the 3rd quarter. Diversified Trust Co now owns 978 shares of the industrial products company’s stock worth $618,000 after buying an additional 100 shares during the last quarter. Bangor Savings Bank increased its position in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after buying an additional 31 shares in the last quarter. Aprio Wealth Management LLC raised its stake in Parker-Hannifin by 20.1% during the third quarter. Aprio Wealth Management LLC now owns 597 shares of the industrial products company’s stock valued at $377,000 after buying an additional 100 shares during the last quarter. Finally, Atomi Financial Group Inc. boosted its holdings in Parker-Hannifin by 28.8% in the third quarter. Atomi Financial Group Inc. now owns 734 shares of the industrial products company’s stock worth $464,000 after acquiring an additional 164 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays lowered their price target on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Truist Financial lifted 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. TD Cowen increased their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $725.06.

Parker-Hannifin Stock Down 0.1 %

PH stock opened at $688.68 on Thursday. The business’s 50-day moving average is $666.34 and its two-hundred day moving average is $632.61. The company has a market cap of $88.65 billion, a price-to-earnings ratio of 28.50, a P/E/G ratio of 2.90 and a beta of 1.45. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. 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 (NYSE:PH) last posted its quarterly earnings data 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%. As a group, analysts forecast that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.95%. Parker-Hannifin’s dividend payout ratio (DPR) 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.