Berkshire Money Management Inc. Buys New Position in Parker-Hannifin Co. (NYSE:PH)

Berkshire Money Management Inc. bought a new position in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 552 shares of the industrial products company’s stock, valued at approximately $351,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. increased its holdings in Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after buying an additional 181,859 shares during the last quarter. Howard Capital Management Group LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $23,390,000. SG Americas Securities LLC grew its holdings in Parker-Hannifin by 752.5% during the fourth quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock valued at $15,507,000 after purchasing an additional 21,521 shares during the period. Wilkinson Global Asset Management LLC increased its position in Parker-Hannifin by 59.1% in the third quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after buying an additional 14,526 shares during the last quarter. Finally, Banco Santander S.A. raised its stake in shares of Parker-Hannifin by 11.9% in the third quarter. Banco Santander S.A. now owns 14,478 shares of the industrial products company’s stock valued at $9,147,000 after buying an additional 1,544 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 0.8 %

Shares of NYSE PH opened at $690.21 on Wednesday. The business has a 50-day moving average of $666.68 and a 200-day moving average of $631.59. The firm has a market capitalization of $88.84 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 2.90 and a beta of 1.45. 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 posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. Sell-side analysts expect that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. Parker-Hannifin’s dividend payout ratio is 26.99%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Robert W. Baird increased their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Truist Financial lifted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. StockNews.com downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $725.06.

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.