Parker-Hannifin Co. (NYSE:PH) Shares Acquired by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC boosted its position in Parker-Hannifin Co. (NYSE:PH) by 7.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 37,185 shares of the industrial products company’s stock after acquiring an additional 2,498 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Parker-Hannifin were worth $23,651,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PH. Norges Bank purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $1,106,132,000. Proficio Capital Partners LLC lifted its stake in Parker-Hannifin by 116,370.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after buying an additional 1,139,265 shares in the last quarter. State Street Corp grew its holdings in Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after buying an additional 753,143 shares during the last quarter. Wellington Management Group LLP increased its position in Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after buying an additional 564,365 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of Parker-Hannifin in the third quarter worth $226,570,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 4.1 %

Shares of Parker-Hannifin stock opened at $600.78 on Monday. 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 quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a market cap of $77.33 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The business has a fifty day simple moving average of $658.39 and a 200-day simple moving average of $655.07.

Parker-Hannifin (NYSE:PH) last released 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%. On average, equities analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PH. StockNews.com cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Truist Financial boosted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus raised their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Barclays dropped their target price on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Finally, Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $736.65.

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.