Brooklyn FI LLC Acquires New Position in Parker-Hannifin Co. (NYSE:PH)

Brooklyn FI LLC acquired a new stake in shares of Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 960 shares of the industrial products company’s stock, valued at approximately $636,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its stake in Parker-Hannifin by 39.2% during the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock valued at $415,409,000 after purchasing an additional 181,859 shares during the period. Howard Capital Management Group LLC acquired a new position in Parker-Hannifin during the 4th quarter valued at about $23,390,000. SG Americas Securities LLC boosted its stake in Parker-Hannifin by 752.5% during the 4th 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. Columbus Macro LLC boosted its stake in Parker-Hannifin by 485.2% during the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock valued at $6,838,000 after purchasing an additional 8,914 shares during the period. Finally, Congress Asset Management Co. boosted its stake in Parker-Hannifin by 15.5% during the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock valued at $121,292,000 after purchasing an additional 25,605 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 2.2 %

Shares of Parker-Hannifin stock opened at $629.93 on Thursday. The stock’s fifty day moving average is $661.07 and its 200-day moving average is $652.16. The firm has a market capitalization of $81.08 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The company has a quick ratio of 0.59, a current ratio of 1.06 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 announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) 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%. Equities analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. Parker-Hannifin’s dividend payout ratio is 26.99%.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of analyst reports. StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday. Jefferies Financial Group boosted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Evercore ISI upped their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Finally, Truist Financial upped their price target 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. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price 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.