Kestra Advisory Services LLC Has $386.79 Million Position in Parker-Hannifin Co. (NYSE:PH)

Kestra Advisory Services LLC decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1.8% in the 4th quarter, Holdings Channel reports. The fund owned 608,130 shares of the industrial products company’s stock after selling 11,035 shares during the quarter. Parker-Hannifin accounts for approximately 2.1% of Kestra Advisory Services LLC’s holdings, making the stock its 3rd largest position. Kestra Advisory Services LLC’s holdings in Parker-Hannifin were worth $386,789,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $25,000. Prestige Wealth Management Group LLC boosted its position in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire purchased a new position in Parker-Hannifin during the fourth quarter valued at $35,000. Kestra Investment Management LLC purchased a new position in Parker-Hannifin during the fourth quarter valued at $40,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth $44,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 2.8 %

Shares of NYSE PH opened at $608.17 on Friday. The stock has a market cap of $78.28 billion, a P/E ratio of 25.17, a PEG ratio of 2.85 and a beta of 1.50. The business’s fifty day simple moving average is $662.02 and its 200-day simple moving average is $651.12. 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 Co. has a 12-month low of $492.71 and a 12-month high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal 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 paid a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.07%. Parker-Hannifin’s payout ratio is currently 26.99%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PH. 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 research note on Thursday, December 12th. Citigroup assumed coverage on Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 price target for the company. Stifel Nicolaus upped their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Wells Fargo & Company increased their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Truist Financial increased their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin 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.