Parker-Hannifin Co. (NYSE:PH) Stake Increased by Keel Point LLC

Keel Point LLC raised its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 13.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,072 shares of the industrial products company’s stock after acquiring an additional 128 shares during the quarter. Keel Point LLC’s holdings in Parker-Hannifin were worth $682,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin in the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd acquired a new position in Parker-Hannifin during the 4th quarter valued at about $25,000. Millstone Evans Group LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $30,000. Bank of New Hampshire bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $40,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 1.0 %

Shares of Parker-Hannifin stock opened at $610.82 on Friday. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44. The company has a market cap of $78.62 billion, a P/E ratio of 25.28, a P/E/G ratio of 2.85 and a beta of 1.39. 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 stock has a 50-day moving average price of $601.46 and a 200 day moving average price of $645.78.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company posted $6.51 earnings per share. As a group, analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be paid a $1.80 dividend. The ex-dividend date is Friday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.18%. Parker-Hannifin’s dividend payout ratio is 29.80%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PH shares. Truist Financial cut their target price on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. UBS Group lowered their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Evercore ISI upped their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Citigroup lowered their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, KeyCorp cut their target price on shares of Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $705.35.

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.