Atria Wealth Solutions Inc. Increases Stock Position in Parker-Hannifin Co. (NYSE:PH)

Atria Wealth Solutions Inc. boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,184 shares of the industrial products company’s stock after buying an additional 611 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Parker-Hannifin were worth $7,113,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PH. Exchange Traded Concepts LLC purchased a new position in Parker-Hannifin during the third quarter worth about $97,000. OLD National Bancorp IN purchased a new position in Parker-Hannifin during the third quarter worth about $330,000. Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin in the third quarter valued at approximately $39,000. Whittier Trust Co. boosted its stake in shares of Parker-Hannifin by 1.8% in the third quarter. Whittier Trust Co. now owns 2,834 shares of the industrial products company’s stock valued at $1,791,000 after purchasing an additional 49 shares during the period. Finally, Foundations Investment Advisors LLC boosted its stake in shares of Parker-Hannifin by 3.3% in the third quarter. Foundations Investment Advisors LLC now owns 1,482 shares of the industrial products company’s stock valued at $936,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.9 %

PH stock opened at $701.48 on Thursday. 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 twelve month low of $492.71 and a twelve month high of $718.44. The company’s 50 day moving average is $665.08 and its two-hundred day moving average is $642.79. The stock has a market cap of $90.30 billion, a P/E ratio of 29.03, a PEG ratio of 2.87 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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 net margin of 15.87% and a return on equity of 27.34%. Research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Analyst Ratings Changes

Several research firms have recently commented on PH. Stifel Nicolaus raised their price objective 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. Barclays lowered their price objective on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. KeyCorp raised their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. TD Cowen raised their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Finally, Argus raised their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $739.06.

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.