Pictet Asset Management Holding SA Boosts Holdings in Parker-Hannifin Co. (NYSE:PH)

Pictet Asset Management Holding SA raised its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 557,160 shares of the industrial products company’s stock after buying an additional 34,821 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Parker-Hannifin were worth $354,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Global Retirement Partners LLC lifted its position in shares of Parker-Hannifin by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after buying an additional 15 shares in the last quarter. FFT Wealth Management LLC raised its holdings in shares of Parker-Hannifin by 1.3% during the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock worth $732,000 after acquiring an additional 15 shares in the last quarter. GenTrust LLC raised its holdings in shares of Parker-Hannifin by 2.9% during the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after acquiring an additional 15 shares in the last quarter. Grove Bank & Trust boosted its position in shares of Parker-Hannifin by 11.9% during the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock valued at $95,000 after acquiring an additional 16 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC grew its holdings in shares of Parker-Hannifin by 0.6% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock valued at $1,723,000 after purchasing an additional 16 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. 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 research note on Wednesday, February 19th. UBS Group decreased their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Barclays dropped their price target on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research report on Thursday, December 12th. Finally, Truist Financial lifted their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Trading Down 1.7 %

NYSE PH opened at $626.76 on Friday. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company’s 50-day moving average price is $659.79 and its 200-day moving average price is $653.92. The stock has a market cap of $80.68 billion, a PE ratio of 25.94, a PEG ratio of 2.85 and a beta of 1.50. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 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%. Equities research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 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.