Quent Capital LLC Buys 129 Shares of Parker-Hannifin Co. (NYSE:PH)

Quent Capital LLC raised its stake in Parker-Hannifin Co. (NYSE:PH) by 15.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 972 shares of the industrial products company’s stock after buying an additional 129 shares during the period. Quent Capital LLC’s holdings in Parker-Hannifin were worth $618,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp boosted its stake in Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after buying an additional 753,143 shares in the last quarter. FMR LLC lifted its holdings in shares of Parker-Hannifin by 7.1% in the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after acquiring an additional 272,531 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Parker-Hannifin by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock valued at $1,623,689,000 after purchasing an additional 29,408 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after purchasing an additional 564,365 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Parker-Hannifin by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock valued at $1,007,102,000 after purchasing an additional 59,432 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on PH shares. Truist Financial upped their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. UBS Group dropped their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Robert W. Baird raised their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Barclays lowered their price objective on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $680.72 on Wednesday. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The stock has a market capitalization of $87.62 billion, a P/E ratio of 28.18, a P/E/G ratio of 2.84 and a beta of 1.45. The company’s 50-day moving average is $665.16 and its 200 day moving average is $636.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, sell-side analysts expect that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 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.