Picton Mahoney Asset Management Buys 90 Shares of Parker-Hannifin Co. (NYSE:PH)

Picton Mahoney Asset Management lifted its stake in Parker-Hannifin Co. (NYSE:PH) by 25.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 440 shares of the industrial products company’s stock after purchasing an additional 90 shares during the quarter. Picton Mahoney Asset Management’s holdings in Parker-Hannifin were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PH. Franklin Resources Inc. raised its holdings in Parker-Hannifin by 39.2% in the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after acquiring an additional 181,859 shares during the last quarter. Howard Capital Management Group LLC purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $23,390,000. SG Americas Securities LLC raised its holdings in Parker-Hannifin by 752.5% in the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock worth $15,507,000 after acquiring an additional 21,521 shares during the last quarter. Columbus Macro LLC raised its holdings in Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock worth $6,838,000 after acquiring an additional 8,914 shares during the last quarter. Finally, Congress Asset Management Co. raised its stake in Parker-Hannifin by 15.5% during the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock valued at $121,292,000 after buying an additional 25,605 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of research reports. Truist Financial boosted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a research note on Thursday, December 12th. KeyCorp boosted their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group cut their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Evercore ISI boosted their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research 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’s stock. According to MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Trading Up 2.8 %

Shares of Parker-Hannifin stock opened at $608.17 on Monday. The company has a market capitalization of $78.28 billion, a P/E ratio of 25.17, a P/E/G ratio of 2.85 and a beta of 1.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The company has a fifty day moving average of $662.02 and a 200 day moving average of $651.99. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 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%. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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